ODDITY Tech (NASDAQ:ODD) Trading Down 10.4% – Should You Sell?

ODDITY Tech Ltd. (NASDAQ:ODD) shares traded down 10.4% during mid-day trading on Tuesday . The stock traded as low as $12.63 and last traded at $12.64. 1,189,835 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,915,455 shares. The stock had previously closed at $14.10.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp reduced their target price on shares of ODDITY Tech from $50.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Weiss Ratings cut ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 3rd. Citizens Jmp downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Barclays restated an “underweight” rating and issued a $13.00 target price (down from $40.00) on shares of ODDITY Tech in a report on Thursday, February 26th. Finally, Needham & Company LLC lowered ODDITY Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, ODDITY Tech has an average rating of “Reduce” and an average price target of $31.36.

ODDITY Tech Stock Down 11.2%

The business’s 50 day moving average is $14.17 and its 200 day moving average is $29.54. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.06 and a current ratio of 5.24. The stock has a market cap of $721.07 million, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 1.93 and a beta of 2.58.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.The company had revenue of $152.73 million during the quarter, compared to analyst estimates of $151.11 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. Equities analysts expect that ODDITY Tech Ltd. will post 0.64 earnings per share for the current year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,600 shares of ODDITY Tech stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $15.62, for a total transaction of $149,952.00. Following the transaction, the chief financial officer owned 63,383 shares of the company’s stock, valued at $990,042.46. The trade was a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ODDITY Tech by 16.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock valued at $3,293,000 after buying an additional 10,582 shares during the period. Geode Capital Management LLC grew its stake in ODDITY Tech by 12.9% in the second quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock valued at $5,660,000 after purchasing an additional 8,561 shares in the last quarter. Legal & General Group Plc purchased a new position in ODDITY Tech in the second quarter valued at about $71,000. American Century Companies Inc. increased its position in ODDITY Tech by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock worth $1,079,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of ODDITY Tech in the 2nd quarter valued at approximately $327,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.