ODDITY Tech (NASDAQ:ODD) Stock Rating Upgraded by Zacks Research

ODDITY Tech (NASDAQ:ODD) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other equities research analysts have also issued research reports about the company. Citigroup reaffirmed a “market perform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Weiss Ratings upgraded ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Wall Street Zen downgraded ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. JPMorgan Chase & Co. assumed coverage on ODDITY Tech in a research report on Monday, September 21st. They set a “neutral” rating and a $18.00 price target for the company. Finally, Morgan Stanley boosted their price target on ODDITY Tech from $16.50 to $18.50 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $22.35.

ODDITY Tech Stock Up 7.1%

Shares of NASDAQ ODD opened at $23.17 on Wednesday. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $52.00. The company has a market capitalization of $1.33 billion, a PE ratio of 96.54 and a beta of 2.24. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11. The firm’s 50-day moving average is $16.50 and its two-hundred day moving average is $14.99.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $178.23 million. During the same period in the prior year, the business earned $0.92 earnings per share. The company’s quarterly revenue was down 24.9% on a year-over-year basis. Equities analysts anticipate that ODDITY Tech will post -0.25 EPS for the current fiscal year.

Insider Activity

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total transaction of $116,449.53. Following the sale, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 62,852 shares of company stock worth $938,716.

Hedge Funds Weigh In On ODDITY Tech

Institutional investors have recently modified their holdings of the company. Empowered Funds LLC purchased a new position in shares of ODDITY Tech during the first quarter valued at approximately $1,275,000. State Street Corp boosted its position in ODDITY Tech by 123.5% during the second quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after acquiring an additional 462,137 shares during the last quarter. Rice Hall James & Associates LLC purchased a new stake in ODDITY Tech in the 1st quarter worth approximately $3,533,000. Sparta 24 Ltd. purchased a new stake in ODDITY Tech in the 1st quarter worth approximately $1,082,000. Finally, Halter Ferguson Financial Inc. acquired a new position in ODDITY Tech in the 1st quarter valued at $2,789,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.