ODDITY Tech (NASDAQ:ODD) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of ODDITY Tech (NASDAQ:ODD) from a sell rating to a strong sell rating in a research note published on Saturday,Wall Street Zen reports.

ODD has been the topic of a number of other reports. Bank of America restated an “underperform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Truist Financial boosted their price target on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, September 10th. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. Zacks Research raised shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group upped their price target on shares of ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $22.15.

ODDITY Tech Stock Up 2.2%

Shares of ODDITY Tech stock opened at $21.58 on Friday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 89.92 and a beta of 2.24. The company’s 50 day moving average is $16.04 and its 200 day moving average is $14.81. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $52.00. The company has a quick ratio of 2.11, a current ratio of 3.45 and a debt-to-equity ratio of 2.21.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $180.52 million for the quarter, compared to analysts’ expectations of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Research analysts anticipate that ODDITY Tech will post -0.25 EPS for the current year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the sale, the chief financial officer directly owned 116,135 shares in the company, valued at approximately $1,752,477.15. This trade represents a 6.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 62,852 shares of company stock valued at $938,716.

Hedge Funds Weigh In On ODDITY Tech

Several large investors have recently bought and sold shares of the business. Juncture Wealth Strategies LLC raised its stake in ODDITY Tech by 17.8% in the third quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company’s stock valued at $506,000 after buying an additional 4,097 shares in the last quarter. State Street Corp boosted its position in shares of ODDITY Tech by 123.5% during the 2nd 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 in the last quarter. K5 Global Advisor LLC purchased a new position in shares of ODDITY Tech in the 2nd quarter valued at about $375,000. Sigma Planning Corp increased its holdings in shares of ODDITY Tech by 37.7% in the 2nd quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock valued at $220,000 after acquiring an additional 3,975 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of ODDITY Tech during the 2nd quarter worth about $300,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

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.