ODDITY Tech (NASDAQ:ODD) Trading 7.6% Higher - Here's Why

Key Points

• ODDITY Tech shares rose 7.6% to about $19.50, although trading volume was 94% below the average daily level.
• The company beat quarterly EPS and revenue expectations, reporting $0.20 per share versus $0.12 expected and $180.5 million in revenue versus $178.2 million. However, revenue declined 24.9% year over year, and analysts expect a full-year loss.
• Wall Street remains cautious, with a consensus rating of “Reduce” based on 10 Hold and four Sell ratings. Insiders have also sold roughly $2.6 million of shares over the past three months.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) shares rose 7.6% during trading on Monday . The company traded as high as $19.31 and last traded at $19.4950. 106,351 shares traded hands during trading, a decline of 94% from the average daily volume of 1,697,241 shares. The stock had previously closed at $18.11.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ODD shares. Zacks Research raised ODDITY Tech from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Bank of America reissued an "underperform" rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Barclays cut their price objective on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating on the stock in a report on Wednesday, June 3rd. KeyCorp restated a "sector weight" rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Finally, Citigroup reiterated a "market perform" rating on shares of ODDITY Tech in a report on Thursday, September 10th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, ODDITY Tech has a consensus rating of "Reduce" and an average price target of $27.41.

ODDITY Tech Price Performance

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 has a 50 day simple moving average of $15.07 and a 200 day simple moving average of $14.20. The stock has a market cap of $1.07 billion, a P/E ratio of 77.35 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The business had revenue of $180.52 million for the quarter, compared to analyst estimates of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. ODDITY Tech's revenue for the quarter was down 24.9% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. Sell-side analysts forecast that ODDITY Tech Ltd. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Drucker sold 7,717 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 172,454 shares of company stock valued at $2,592,610 in the last three months.

Institutional Investors Weigh In On ODDITY Tech

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC bought a new position in ODDITY Tech in the first quarter valued at approximately $1,275,000. Rice Hall James & Associates LLC acquired a new stake in shares of ODDITY Tech during the first quarter worth $3,533,000. Sparta 24 Ltd. acquired a new position in ODDITY Tech in the first quarter valued at $1,082,000. Halter Ferguson Financial Inc. bought a new stake in ODDITY Tech during the first quarter valued at $2,789,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of 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 acquiring an additional 30,000 shares in the last quarter. Institutional investors own 35.88% of the company's stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY's portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.

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