ODDITY Tech (NASDAQ:ODD) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS

ODDITY Tech (NASDAQ:ODD) posted its earnings results on Tuesday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13), FiscalAI reports. ODDITY Tech had a net margin of 13.68% and a return on equity of 29.84%. The firm had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million.

ODDITY Tech Trading Up 3.5%

NASDAQ ODD opened at $13.98 on Tuesday. The company has a market cap of $804.90 million, a price-to-earnings ratio of 7.77, a P/E/G ratio of 1.77 and a beta of 2.58. ODDITY Tech has a 52 week low of $10.80 and a 52 week high of $79.18. The business has a 50 day moving average price of $13.96 and a 200-day moving average price of $26.24. The company has a quick ratio of 4.06, a current ratio of 5.24 and a debt-to-equity ratio of 1.47.

Insider Activity

In related news, CFO Mann Lindsay Drucker sold 9,604 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $12.85, for a total transaction of $123,411.40. Following the transaction, the chief financial officer owned 49,054 shares of the company’s stock, valued at $630,343.90. The trade was a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 28,807 shares of company stock worth $402,428 over the last 90 days.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

ODD has been the topic of a number of recent research reports. Jefferies Financial Group lowered ODDITY Tech from a “buy” rating to a “hold” rating and cut their price target for the company from $64.00 to $18.00 in a research note on Wednesday, February 25th. KeyCorp lowered their price objective on ODDITY Tech from $50.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Needham & Company LLC downgraded ODDITY Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings downgraded ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 3rd. Finally, Barclays restated an “underweight” rating and set a $13.00 price objective (down from $40.00) on shares of ODDITY Tech in a research report on Thursday, February 26th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $31.36.

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.