Oddity Tech (NASDAQ:ODD) Shares Gap Down - Here's Why

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $77.35, but opened at $75.00. Oddity Tech shares last traded at $72.29, with a volume of 268,992 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ODD. JMP Securities reaffirmed a "market outperform" rating and issued a $66.00 price objective on shares of Oddity Tech in a report on Tuesday, April 22nd. The Goldman Sachs Group upped their price objective 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 decreased their target price on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial boosted their target price on shares of Oddity Tech from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Bank of America upped their price objective on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Oddity Tech has a consensus rating of "Moderate Buy" and a consensus target price of $59.00.

Oddity Tech Trading Down 7.0%

The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 1.48 and a beta of 3.45. The stock's fifty day simple moving average is $56.85 and its 200-day simple moving average is $49.08.

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

Institutional Investors Weigh In On Oddity Tech

A number of large investors have recently modified their holdings of ODD. Wilmington Savings Fund Society FSB increased its position in shares of Oddity Tech by 49.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,650 shares of the company's stock valued at $153,000 after purchasing an additional 1,200 shares during the last quarter. Blue Trust Inc. increased its position in shares of Oddity Tech by 35.8% in the 4th quarter. Blue Trust Inc. now owns 6,565 shares of the company's stock valued at $276,000 after purchasing an additional 1,731 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Oddity Tech in the 4th quarter valued at approximately $746,000. D.A. Davidson & CO. increased its position in shares of Oddity Tech by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 25,838 shares of the company's stock valued at $1,086,000 after purchasing an additional 273 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its position in shares of Oddity Tech by 1.9% in the 4th quarter. Peregrine Capital Management LLC now owns 146,155 shares of the company's stock valued at $6,141,000 after buying an additional 2,719 shares during the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

Oddity Tech Company Profile

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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