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

Key Points

• ODDITY Tech shares experienced a significant drop, opening at $65.53 after a previous close of $74.04, with the stock last trading at $62.72.
• Several analysts have upgraded their price targets for ODDITY Tech, with Bank of America setting a new target of $80.00 and JPMorgan Chase increasing theirs to $85.00, while the average price target stands at $73.50.
• The company reported a quarterly earnings per share (EPS) of $0.92, exceeding analysts' expectations of $0.88, along with a revenue increase of 25.1% year-over-year.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $74.04, but opened at $65.53. ODDITY Tech shares last traded at $62.72, with a volume of 382,948 shares.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ODD. Morgan Stanley increased their price target on shares of ODDITY Tech from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Wednesday. JMP Securities upped their price target on ODDITY Tech from $72.00 to $80.00 and gave the stock a "market outperform" rating in a research note on Tuesday. KeyCorp lifted their price objective on ODDITY Tech from $65.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. The Goldman Sachs Group increased their target price on shares of ODDITY Tech from $47.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of ODDITY Tech from $63.00 to $85.00 and gave the company 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.88.

ODDITY Tech Stock Down 2.5%

The firm has a market capitalization of $3.15 billion, a PE ratio of 31.33, a P/E/G ratio of 2.69 and a beta of 3.27. The company has a quick ratio of 1.29, a current ratio of 6.32 and a debt-to-equity ratio of 1.66. The firm's 50 day moving average price is $71.97 and its two-hundred day moving average price is $56.77.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. ODDITY Tech had a return on equity of 32.17% and a net margin of 14.65%. The business had revenue of $241.14 million for the quarter, compared to analysts' expectations of $237.44 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company's revenue was up 25.1% compared to the same quarter last year. As a group, research analysts forecast that ODDITY Tech Ltd. will post 1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On ODDITY Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. WD Rutherford LLC bought a new position in ODDITY Tech in the second quarter worth about $48,000. Assetmark Inc. bought a new position in ODDITY Tech during the 2nd quarter worth $54,000. Deutsche Bank AG increased its position in ODDITY Tech by 65.0% in the first quarter. Deutsche Bank AG now owns 1,340 shares of the company's stock worth $58,000 after buying an additional 528 shares during the period. Blair William & Co. IL bought a new stake in ODDITY Tech in the second quarter valued at $204,000. Finally, Diversified Trust Co acquired a new position in shares of ODDITY Tech during the second quarter valued at $205,000. Institutional investors 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.