ODDITY Tech (NASDAQ:ODD) Trading 6.7% Higher - What's Next?

Key Points

• ODDITY Tech shares rose 6.7% on Wednesday, trading as high as $17.25 before closing near $17.45, though volume was far below normal.
• Analysts remain cautious: several firms cut price targets and kept hold/sell-style ratings, with the stock carrying an average “Reduce” rating and an average target price of $25.39.
• The company recently reported mixed quarterly results, missing EPS estimates but beating revenue expectations; it also saw insider selling, including a large CFO share sale under a 10b5-1 plan.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report)'s stock price was up 6.7% during trading on Wednesday . The company traded as high as $17.25 and last traded at $17.4510. Approximately 42,389 shares traded hands during trading, a decline of 98% from the average session volume of 1,862,624 shares. The stock had previously closed at $16.35.

Analyst Ratings Changes

Several research analysts recently weighed in on ODD shares. Barclays cut their target price on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 3rd. Needham & Company LLC reiterated a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. KeyCorp restated a "sector weight" rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Truist Financial lowered their target price on ODDITY Tech from $18.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, June 3rd. Finally, Morgan Stanley dropped their price target on ODDITY Tech from $16.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $25.39.

ODDITY Tech Stock Performance

The firm's 50-day moving average price is $13.39 and its two-hundred day moving average price is $20.07. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.15 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 business had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.ODDITY Tech's revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. Sell-side analysts predict that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the transaction, the chief financial officer directly owned 77,709 shares of the company's stock, valued at approximately $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 have sold 128,805 shares of company stock valued at $1,932,910 in the last quarter.

Institutional Trading of ODDITY Tech

Large investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company's stock valued at $286,188,000 after acquiring an additional 1,076,921 shares in the last quarter. Morgan Stanley lifted its stake in ODDITY Tech by 13.9% in the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company's stock valued at $172,998,000 after acquiring an additional 525,481 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of ODDITY Tech by 115.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company's stock worth $97,379,000 after acquiring an additional 1,296,551 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of ODDITY Tech by 1.1% in the fourth quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company's stock worth $61,202,000 after purchasing an additional 16,747 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in ODDITY Tech by 6.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 713,447 shares of the company's stock worth $44,448,000 after buying an additional 41,723 shares in the last quarter. Institutional investors 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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