ODDITY Tech (NASDAQ:ODD) Stock Price Down 6.2% - Here's What Happened

Key Points

• ODDITY Tech shares fell 6.2% to about $22.08, with trading volume down 86% versus the average session. The stock’s market capitalization was approximately $1.28 billion.
• Analyst sentiment remains cautious: the stock has one Strong Buy, ten Hold, and three Sell ratings, producing an average “Reduce” rating and an average price target of $22.35. Zacks Research was the notable exception, upgrading the shares to Strong Buy.
• The company beat quarterly expectations with adjusted EPS of $0.20 versus $0.12 expected and revenue of $180.52 million, though revenue fell 24.9% year over year and analysts expect a full-year loss of $0.25 per share.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report)'s stock price was down 6.2% on Wednesday. The stock traded as low as $22.33 and last traded at $22.0750. 226,122 shares changed hands during trading, a decline of 86% from the average session volume of 1,595,368 shares. The stock had previously closed at $23.53.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of ODDITY Tech from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 14th. Needham & Company LLC restated a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. Citigroup reaffirmed a "market perform" rating on shares of ODDITY Tech in a report on Thursday, September 10th. Jefferies Financial Group increased their price target on ODDITY Tech from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Wednesday, September 9th. Finally, Bank of America reiterated an "underperform" rating on shares of ODDITY Tech in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $22.35.

ODDITY Tech Stock Performance

The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45. The business's fifty day simple moving average is $17.09 and its 200-day simple moving average is $15.20. The firm has a market capitalization of $1.28 billion, a PE ratio of 92.10 and a beta of 2.24.

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

Insider Activity

In related news, CFO Mann Drucker sold 7,717 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was 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 approximately $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 62,852 shares of company stock valued at $938,716 over the last quarter.

Hedge Funds Weigh In On ODDITY Tech

Several institutional investors have recently added to or reduced their stakes in the company. USS Investment Management Ltd increased its position in ODDITY Tech by 6.4% in the first quarter. USS Investment Management Ltd now owns 14,633 shares of the company's stock worth $196,000 after purchasing an additional 880 shares during the last quarter. Blue Trust Inc. raised its stake in ODDITY Tech by 14.9% during 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 position in 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 purchasing an additional 3,605 shares during the last quarter. Juncture Wealth Strategies LLC lifted its position in ODDITY Tech by 17.8% during the third quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company's stock valued at $506,000 after purchasing an additional 4,097 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in ODDITY Tech during the first quarter valued at $104,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

ODDITY Tech Company Profile

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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