ODDITY Tech (NASDAQ:ODD) Trading 7.3% Higher - What's Next?

Key Points

• ODDITY Tech's stock rose 7.3% on Thursday to about $13.96, with roughly 4.04 million shares traded—about 75% above its average daily volume after a prior close of $13.00.
• Wall Street sentiment has weakened: analysts have widely cut price targets and ratings (notable reductions from Morgan Stanley, Jefferies, KeyCorp and Truist), leaving a consensus rating of "Reduce" and a consensus price target of $31.73.
• The company posted an earnings beat for the quarter—EPS $0.20 vs. $0.14 expected and revenue $152.73M (up 23.8% year-over-year)—and shows a PE of 7.74 and ROE of 29.84%.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report)'s stock price rose 7.3% on Thursday . The stock traded as high as $13.97 and last traded at $13.9550. Approximately 4,039,768 shares changed hands during trading, an increase of 75% from the average daily volume of 2,303,152 shares. The stock had previously closed at $13.00.

Wall Street Analysts Forecast Growth

ODD has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on ODDITY Tech from $61.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday, November 21st. Needham & Company LLC downgraded shares of ODDITY Tech from a "buy" rating to a "hold" rating in a report on Wednesday, February 25th. Jefferies Financial Group cut ODDITY Tech from a "buy" rating to a "hold" rating and decreased their price objective for the company from $64.00 to $18.00 in a report on Wednesday, February 25th. KeyCorp cut their target price on ODDITY Tech from $50.00 to $30.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $18.00 price target (down from $80.00) on shares of ODDITY Tech in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $31.73.

ODDITY Tech Price Performance

The company has a fifty day moving average of $31.60 and a 200-day moving average of $44.17. The stock has a market cap of $777.71 million, a PE ratio of 7.74, a P/E/G ratio of 1.61 and a beta of 3.54. The company has a current ratio of 5.24, a quick ratio of 4.06 and a debt-to-equity ratio of 1.47.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. ODDITY Tech had a net margin of 13.68% and a return on equity of 29.84%. The company had revenue of $152.73 million for the quarter, compared to analyst estimates of $151.11 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The business's revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts expect that ODDITY Tech Ltd. will post 1.62 EPS for the current fiscal year.

Institutional Trading of ODDITY Tech

A number of large investors have recently modified their holdings of the stock. Wexford Capital LP purchased a new position in ODDITY Tech in the third quarter valued at $40,000. Assetmark Inc. purchased a new position in shares of ODDITY Tech in the 2nd quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ODDITY Tech by 134.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company's stock valued at $69,000 after buying an additional 651 shares during the period. Legal & General Group Plc purchased a new stake in shares of ODDITY Tech during the second quarter worth approximately $71,000. Finally, Quaker Wealth Management LLC increased its stake in shares of ODDITY Tech by 530.3% during the third quarter. Quaker Wealth Management LLC now owns 1,664 shares of the company's stock worth $104,000 after buying an additional 1,400 shares during the period. Hedge funds and other 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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