Oddity Tech (NASDAQ:ODD) Trading Up 6.8% Following Analyst Upgrade

Oddity Tech Ltd. (NASDAQ:ODD) shares rose 6.8% on Friday after Barclays raised their price target on the stock from $42.00 to $46.00. Barclays currently has an equal weight rating on the stock. Oddity Tech traded as high as $47.75 and last traded at $48.19. Approximately 111,068 shares changed hands during trading, a decline of 75% from the average daily volume of 452,347 shares. The stock had previously closed at $45.11.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Oddity Tech in a report on Friday, December 13th. They issued a “neutral” rating and a $48.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Oddity Tech in a research note on Friday, January 31st. They issued an “overweight” rating and a $55.00 price objective for the company. Morgan Stanley lifted their target price on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. KeyCorp increased their price target on Oddity Tech from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Bank of America raised their price objective on Oddity Tech from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.44.

Institutional Investors Weigh In On Oddity Tech

A number of hedge funds have recently made changes to their positions in ODD. Mark Sheptoff Financial Planning LLC purchased a new position in Oddity Tech in the fourth quarter valued at approximately $42,000. R Squared Ltd purchased a new stake in Oddity Tech in the fourth quarter worth $61,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Oddity Tech in the third quarter valued at $99,000. Quarry LP purchased a new position in shares of Oddity Tech during the 3rd quarter valued at $122,000. Finally, Wells Fargo & Company MN grew its stake in shares of Oddity Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock worth $126,000 after acquiring an additional 449 shares during the period. 35.88% of the stock is currently owned by institutional investors.

Oddity Tech Trading Up 5.6 %

The firm has a fifty day moving average of $44.24 and a two-hundred day moving average of $41.95. The company has a market cap of $2.71 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 1.48 and a beta of 4.34.

Oddity Tech Company Profile

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.