ODDITY Tech (NASDAQ:ODD) Stock Jumps 8.8% - What's Next?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) shot up 8.8% during mid-day trading on Monday. The company traded as high as $20.56 and last traded at $20.5550. Approximately 192,537 shares were traded during trading, a decline of 88% from the average daily volume of 1,650,452 shares. The stock had previously closed at $18.90.

Wall Street Analysts Forecast Growth

ODD has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of ODDITY Tech from $10.00 to $16.50 and gave the stock an "equal weight" rating in a research note on Thursday, September 10th. Truist Financial upped their price target on ODDITY Tech from $16.00 to $18.00 and gave the company a "hold" rating in a research report on Thursday, September 10th. Zacks Research raised ODDITY Tech from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Wall Street Zen upgraded ODDITY Tech from a "strong sell" rating to a "sell" rating in a report on Saturday, September 12th. Finally, JPMorgan Chase & Co. started coverage on ODDITY Tech in a research report on Monday, September 21st. They set a "neutral" rating and a $18.00 target price on the stock. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $22.15.

ODDITY Tech Trading Up 6.5%

The firm has a market capitalization of $1.16 billion, a P/E ratio of 84.19 and a beta of 2.24. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21. The company's fifty day moving average is $15.49 and its 200-day moving average is $14.55.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%.The company had revenue of $180.52 million for the quarter, compared to the consensus estimate of $178.23 million. During the same period last year, the business posted $0.92 earnings per share. The firm's revenue was down 24.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that ODDITY Tech Ltd. will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the sale, the chief financial officer directly owned 116,135 shares in the company, valued at $1,752,477.15. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 62,852 shares of company stock valued at $938,716.

Institutional Trading of ODDITY Tech

Institutional investors have recently modified their holdings of the company. USS Investment Management Ltd boosted its stake in shares of ODDITY Tech by 6.4% in the 1st quarter. USS Investment Management Ltd now owns 14,633 shares of the company's stock valued at $196,000 after purchasing an additional 880 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of ODDITY Tech by 14.9% in the first quarter. Blue Trust Inc. now owns 11,359 shares of the company's stock valued at $152,000 after purchasing an additional 1,470 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of ODDITY Tech by 52.0% during the first quarter. Sigma Planning Corp now owns 10,535 shares of the company's stock valued at $141,000 after acquiring an additional 3,605 shares during the period. SG Americas Securities LLC bought a new stake in ODDITY Tech during the 1st quarter worth about $104,000. Finally, J. Safra Sarasin Holding AG raised its stake in shares of ODDITY Tech by 132.6% during the first quarter. J. Safra Sarasin Holding AG now owns 20,000 shares of the company's stock worth $268,000 after buying an additional 11,400 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company's stock.

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY's portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.

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