Oddity Tech (NASDAQ:ODD) Sets New 52-Week High - Here's Why

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $73.00 and last traded at $71.41, with a volume of 306543 shares. The stock had previously closed at $71.00.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Oddity Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Truist Financial increased their price objective on Oddity Tech from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays raised their target price on Oddity Tech from $42.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. KeyCorp lowered their target price on Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America raised their target price on Oddity Tech from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.63.

Oddity Tech Stock Down 1.3%

The firm has a market cap of $3.91 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 1.48 and a beta of 3.44. The firm has a fifty day moving average of $46.70 and a 200-day moving average of $45.12.

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

Institutional Investors Weigh In On Oddity Tech

Large investors have recently modified their holdings of the business. Nordea Investment Management AB acquired a new stake in shares of Oddity Tech in the 4th quarter valued at $797,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Oddity Tech in the 4th quarter valued at $1,767,000. Penn Capital Management Company LLC acquired a new stake in shares of Oddity Tech in the 4th quarter valued at $8,690,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Oddity Tech in the 4th quarter valued at $329,000. Finally, Blue Trust Inc. lifted its stake in shares of Oddity Tech by 33.2% in the 4th quarter. Blue Trust Inc. now owns 6,437 shares of the company's stock valued at $260,000 after acquiring an additional 1,603 shares during the last quarter. Institutional investors and hedge funds 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.

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