ODDITY Tech (NASDAQ:ODD) Trading 4.5% Higher - Should You Buy?

Key Points

• ODDITY Tech shares rose 4.5% to $14.84 in Wednesday trading, although volume was 92% below the average daily level.
• Analyst sentiment remains cautious: nine analysts rate the stock Hold and four rate it Sell, producing a consensus rating of “Reduce.” Goldman Sachs and Barclays recently cut their price targets to $8.00.
• The company missed quarterly EPS expectations, reporting a $0.17 loss per share versus a projected $0.04 loss, while revenue of $197.94 million exceeded estimates but fell 26.2% year over year.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) rose 4.5% during trading on Wednesday . The stock traded as high as $15.12 and last traded at $14.84. Approximately 131,181 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,660,141 shares. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

Several research firms have recently commented on ODD. Needham & Company LLC reaffirmed a "hold" rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Jefferies Financial Group reissued a "hold" rating and issued a $10.25 price target on shares of ODDITY Tech in a report on Tuesday, June 2nd. Barclays reduced their price objective on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating for the company in a research report on Wednesday, June 3rd. The Goldman Sachs Group downgraded ODDITY Tech from a "hold" rating to a "sell" rating and lowered their price objective for the stock from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Nine research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $25.39.

ODDITY Tech Price Performance

The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The stock has a market capitalization of $856.50 million, a price-to-earnings ratio of 18.81 and a beta of 2.38. The business's 50 day simple moving average is $14.80 and its 200-day simple moving average is $15.46.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. ODDITY Tech's revenue for the quarter was down 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. Research analysts anticipate that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mann Lindsay Drucker sold 11,473 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $15.10, for a total value of $173,242.30. Following the completion of the transaction, the chief financial officer owned 104,492 shares of the company's stock, valued at approximately $1,577,829.20. This represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 130,678 shares of company stock worth $1,956,201.

Institutional Investors Weigh In On ODDITY Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC acquired a new position in shares of ODDITY Tech during the 1st quarter valued at $1,275,000. Rice Hall James & Associates LLC bought a new stake in shares of ODDITY Tech in the 1st quarter worth $3,533,000. Halter Ferguson Financial Inc. acquired a new stake in shares of ODDITY Tech in the first quarter valued at $2,789,000. Sparta 24 Ltd. acquired a new stake in shares of ODDITY Tech in the first quarter valued at $1,082,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in ODDITY Tech by 32.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company's stock valued at $1,621,000 after buying an additional 30,000 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

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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