Oddity Tech (NASDAQ:ODD) Shares Gap Down - What's Next?

Shares of Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ODD. Barclays increased their price objective on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. The Goldman Sachs Group raised their target price on shares of Oddity Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $66.00 target price on shares of Oddity Tech in a research note on Tuesday, April 22nd. Truist Financial raised their price target on shares of Oddity Tech from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Oddity Tech from $63.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.00.

Oddity Tech Stock Performance

The firm's fifty day moving average is $59.26 and its 200-day moving average is $49.74. The company has a market capitalization of $4.13 billion, a P/E ratio of 45.12, a price-to-earnings-growth ratio of 1.48 and a beta of 3.45.

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, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $268.08 million for the quarter, compared to the consensus estimate of $260.71 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The firm's revenue was up 26.7% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. As a group, analysts expect that Oddity Tech Ltd. will post 1.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.