Investors Buy Large Volume of Put Options on Oddity Tech (NASDAQ:ODD)

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 2,198 put options on the stock. This represents an increase of approximately 112% compared to the average volume of 1,038 put options.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ODD shares. 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 note on Thursday, February 27th. KeyCorp dropped their price objective on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their price objective 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 reiterated a "market outperform" rating and set a $66.00 price objective on shares of Oddity Tech in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Oddity Tech from $56.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Oddity Tech currently has a consensus rating of "Moderate Buy" and an average price target of $54.63.

Oddity Tech Stock Performance

Shares of NASDAQ:ODD traded down $0.25 during trading hours on Friday, hitting $63.00. The stock had a trading volume of 1,736,400 shares, compared to its average volume of 569,711. The stock's fifty day simple moving average is $48.64 and its 200 day simple moving average is $45.94. Oddity Tech has a 1-year low of $32.71 and a 1-year high of $73.00. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The company had revenue of $268.08 million for the quarter, compared to analyst estimates of $260.71 million. During the same quarter last year, the business earned $0.61 earnings per share. Oddity Tech's revenue was up 26.7% compared to the same quarter last year. As a group, research analysts anticipate that Oddity Tech will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Oddity Tech

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new stake in Oddity Tech in the fourth quarter worth approximately $797,000. Harbor Capital Advisors Inc. acquired a new stake in Oddity Tech in the fourth quarter worth approximately $1,767,000. Penn Capital Management Company LLC acquired a new stake in Oddity Tech in the fourth quarter worth approximately $8,690,000. Susquehanna Fundamental Investments LLC acquired a new stake in Oddity Tech in the fourth quarter worth approximately $329,000. Finally, Wells Fargo & Company MN lifted its holdings in Oddity Tech by 17.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $126,000 after acquiring an additional 449 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.