ODDITY Tech (NASDAQ:ODD) Stock Price Down 7.6% - Should You Sell?

Key Points

• ODDITY Tech shares fell 7.6% on Thursday, trading as low as $15.19 after closing at $16.38, with volume far below average.
• Recent analyst action has been mixed to negative, including Goldman Sachs downgrading the stock to sell and cutting its price target to $8, while consensus still sits at Reduce with a $25.39 target.
• The company’s latest earnings missed expectations on EPS, and revenue fell 26.2% year over year, while insider activity also showed the CFO selling shares under a pre-arranged trading plan.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report)'s share price dropped 7.6% during trading on Thursday . The company traded as low as $15.19 and last traded at $15.1370. Approximately 124,235 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,814,387 shares. The stock had previously closed at $16.38.

Wall Street Analyst Weigh In

ODD has been the topic of several recent analyst reports. KeyCorp restated a "sector weight" rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. The Goldman Sachs Group downgraded ODDITY Tech from a "hold" rating to a "sell" rating and lowered their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of ODDITY Tech from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 18th. Finally, Truist Financial cut their price objective on ODDITY Tech from $18.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, June 3rd. Eight analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $25.39.

ODDITY Tech Trading Down 5.2%

The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The business has a 50 day simple moving average of $13.69 and a two-hundred day simple moving average of $19.03. The stock has a market cap of $894.22 million, a price-to-earnings ratio of 19.70 and a beta of 2.37.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.13). The company had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company's revenue was down 26.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. As a group, equities analysts anticipate that ODDITY Tech Ltd. will post -0.55 EPS for the current year.

Insider Transactions at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the transaction, the chief financial officer directly owned 77,709 shares in the company, valued at $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 128,805 shares of company stock worth $1,932,910 in the last quarter.

Hedge Funds Weigh In On ODDITY Tech

A number of large investors have recently bought and sold shares of ODD. Baillie Gifford & Co. grew its stake in shares of ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company's stock worth $286,188,000 after purchasing an additional 1,076,921 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in shares of ODDITY Tech by 31.2% in the fourth quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company's stock worth $7,654,000 after buying an additional 45,253 shares during the period. Halter Ferguson Financial Inc. purchased a new position in ODDITY Tech during the 1st quarter worth approximately $2,789,000. Sparta 24 Ltd. purchased a new position in ODDITY Tech during the 1st quarter valued at about $1,082,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of ODDITY Tech by 110.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company's stock worth $23,718,000 after purchasing an additional 310,000 shares in the last quarter. 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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