ODDITY Tech (NASDAQ:ODD) Stock Price Down 9.2% - What's Next?

Key Points

• ODDITY Tech shares dropped 9.2% to about $19.70, from a prior close of $21.70; trading volume was 71% below its daily average.
• Analyst opinion is cautious: MarketBeat reports a consensus “Reduce” rating and $22.35 price target, with 10 analysts at Hold, three at Sell, and one at Strong Buy.
• The latest quarter beat earnings and revenue estimates, but revenue fell 24.9% year over year. CFO Mann Drucker also sold shares under a pre-arranged plan to cover tax withholding on vested equity awards.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report)'s stock price fell 9.2% on Tuesday. The company traded as low as $19.64 and last traded at $19.6990. Approximately 446,195 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,539,868 shares. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ODD shares. Needham & Company LLC reiterated a "hold" rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. Morgan Stanley boosted their price objective on shares of ODDITY Tech from $16.50 to $18.50 and gave the stock an "equal weight" rating in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of ODDITY Tech from a "strong sell" rating to a "sell" rating in a report on Sunday, October 18th. Citigroup reaffirmed a "market perform" rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Finally, Jefferies Financial Group lifted their target price on shares of ODDITY Tech from $16.00 to $18.00 and gave the company a "hold" rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, ODDITY Tech presently has a consensus rating of "Reduce" and a consensus price target of $22.35.

ODDITY Tech Stock Down 9.2%

The company's 50-day moving average is $19.37 and its 200 day moving average is $17.29. The company has a market capitalization of $1.13 billion, a PE ratio of 82.10 and a beta of 2.14. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45.

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

Insider Transactions at ODDITY Tech

In related news, CFO Mann Drucker sold 21,571 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $15.14, for a total value of $326,584.94. Following the transaction, the chief financial officer directly owned 104,492 shares of the company's stock, valued at approximately $1,582,008.88. This represents a 17.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Over the last quarter, insiders sold 51,379 shares of company stock valued at $765,474.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of ODDITY Tech by 123.5% during the second quarter. State Street Corp now owns 836,446 shares of the company's stock valued at $12,655,000 after purchasing an additional 462,137 shares in the last quarter. Amundi increased its holdings in ODDITY Tech by 17.8% in the 1st quarter. Amundi now owns 434,945 shares of the company's stock worth $5,820,000 after buying an additional 65,647 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in ODDITY Tech in the 1st quarter worth about $3,533,000. Teachers Retirement System of The State of Kentucky raised its position in ODDITY Tech by 32.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company's stock worth $1,621,000 after buying an additional 30,000 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its position in ODDITY Tech by 14.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 111,970 shares of the company's stock worth $2,089,000 after buying an additional 14,350 shares during the last quarter. 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 consumer company that develops and operates digital-first beauty and wellness brands. Its portfolio includes IL MAKIAGE, which offers makeup and skincare products, and SpoiledChild, which focuses on beauty and wellness products. The company uses data analytics, artificial intelligence and other technology to support product development, personalized recommendations and online shopping. Its brands primarily sell directly to consumers through e-commerce platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.