Oddity Tech (NASDAQ:ODD) Sees Strong Trading Volume - Here's Why

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) saw an uptick in trading volume on Tuesday . 653,072 shares changed hands during trading, an increase of 14% from the previous session's volume of 571,325 shares.The stock last traded at $70.40 and had previously closed at $69.46.

Analyst Ratings Changes

A number of brokerages recently commented on ODD. Bank of America upped their price target on shares of Oddity Tech from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group upped their price target on shares of Oddity Tech from $47.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. KeyCorp dropped their price target on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JMP Securities reiterated a "market outperform" rating and issued a $66.00 target price on shares of Oddity Tech in a research note on Tuesday, April 22nd. Finally, Barclays increased their target price on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $59.00.

Oddity Tech Stock Performance

The company's 50-day moving average price is $59.95 and its two-hundred day moving average price is $49.91. The stock has a market cap of $4.04 billion, a PE ratio of 44.07, a PEG ratio of 1.48 and a beta of 3.45.

Oddity Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The firm had revenue of $268.08 million for the quarter, compared to analysts' expectations of $260.71 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The business's quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. Equities research analysts forecast that Oddity Tech Ltd. will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Oddity Tech

Several institutional investors and hedge funds have recently made changes to their positions in ODD. Woodline Partners LP bought a new position in shares of Oddity Tech during the 4th quarter valued at $5,460,000. Penn Capital Management Company LLC purchased a new position in Oddity Tech in the 4th quarter worth $8,690,000. Susquehanna Fundamental Investments LLC purchased a new position in Oddity Tech in the 4th quarter worth $329,000. Wells Fargo & Company MN raised its position in Oddity Tech by 17.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after purchasing an additional 449 shares during the period. Finally, Norges Bank purchased a new position in Oddity Tech in the 4th quarter worth $9,470,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

About Oddity Tech

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products.