ODDITY Tech (NASDAQ:ODD) Trading Down 5.5% - What's Next?

Key Points

• ODDITY Tech shares fell 5.5% to about $18.21 in unusually light trading, with volume down 93% from the average session.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating, including ten Holds and four Sells, despite a consensus price target of $27.23. Barclays recently cut its target to $8, while Jefferies raised its target to $18.
• The company exceeded quarterly EPS and revenue estimates, but earnings fell sharply year over year and revenue declined 24.9%; insiders have also sold 172,454 shares over the past quarter.

ODDITY Tech Ltd. (NASDAQ:ODD - Get Free Report) shares were down 5.5% on Friday . The stock traded as low as $18.33 and last traded at $18.2130. Approximately 115,275 shares were traded during trading, a decline of 93% from the average session volume of 1,685,702 shares. The stock had previously closed at $19.27.

Analysts Set New Price Targets

ODD has been the topic of several research analyst reports. Barclays cut their price objective on ODDITY Tech from $13.00 to $8.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 3rd. Bank of America reaffirmed an "underperform" rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Wall Street Zen upgraded shares of ODDITY Tech from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of ODDITY Tech in a report on Tuesday, September 8th. Finally, Jefferies Financial Group upped their price objective on ODDITY Tech from $16.00 to $18.00 and gave the company a "hold" rating in a research note on Wednesday, September 9th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $27.23.

ODDITY Tech Stock Performance

The company has a market capitalization of $1.08 billion, a P/E ratio of 78.06 and a beta of 2.38. The company's 50 day moving average is $15.05 and its 200-day moving average is $14.15. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21.

ODDITY Tech (NASDAQ:ODD - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $178.23 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The business's revenue was down 24.9% compared to the same quarter last year. Equities analysts anticipate that ODDITY Tech Ltd. will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Drucker sold 7,717 shares of the firm'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 transaction of $116,449.53. Following the completion of the transaction, the chief financial officer owned 116,135 shares of the company's stock, valued at $1,752,477.15. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 172,454 shares of company stock valued at $2,592,610.

Hedge Funds Weigh In On ODDITY Tech

A number of hedge funds have recently bought and sold shares of the company. K5 Global Advisor LLC bought a new position in ODDITY Tech in the 2nd quarter valued at approximately $375,000. Sigma Planning Corp lifted its holdings in shares of ODDITY Tech by 37.7% during the second quarter. Sigma Planning Corp now owns 14,510 shares of the company's stock valued at $220,000 after purchasing an additional 3,975 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of ODDITY Tech during the 2nd quarter valued at about $300,000. Avidity Partners Management LP bought a new position in ODDITY Tech during the first quarter valued at approximately $937,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of ODDITY Tech during the 1st quarter valued at about $488,000. Institutional investors own 35.88% of the company's stock.

About ODDITY Tech

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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