ODDITY Tech (NASDAQ:ODD) Trading Up 8% – Should You Buy?

ODDITY Tech Ltd. (NASDAQ:ODD) shares were up 8% on Friday . The stock traded as high as $14.18 and last traded at $14.1880. Approximately 349,491 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,889,429 shares. The stock had previously closed at $13.14.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ODD shares. Wall Street Zen downgraded ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $16.00 price objective (down from $59.00) on shares of ODDITY Tech in a report on Thursday, February 26th. Jefferies Financial Group reiterated a “hold” rating and set a $10.25 target price on shares of ODDITY Tech in a report on Tuesday, June 2nd. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Finally, Morgan Stanley reduced their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Nine analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, ODDITY Tech presently has an average rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Stock Performance

The firm has a market capitalization of $832.15 million, a price-to-earnings ratio of 18.34 and a beta of 2.47. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The stock’s fifty day moving average is $13.04 and its two-hundred day moving average is $22.47.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The firm had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The business’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. Analysts forecast that ODDITY Tech Ltd. will post -0.46 earnings per share for the current year.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 9,604 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $12.85, for a total value of $123,411.40. Following the completion of the transaction, the chief financial officer owned 49,054 shares of the company’s stock, valued at approximately $630,343.90. This represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 28,807 shares of company stock valued at $402,428 in the last 90 days.

Institutional Investors Weigh In On ODDITY Tech

Several institutional investors and hedge funds have recently made changes to their positions in ODD. Citigroup Inc. boosted its stake in ODDITY Tech by 220.4% during the 3rd quarter. Citigroup Inc. now owns 228,786 shares of the company’s stock valued at $14,253,000 after purchasing an additional 157,374 shares in the last quarter. Bamco Inc. NY raised its stake in shares of ODDITY Tech by 11.3% in the 3rd quarter. Bamco Inc. NY now owns 1,376,781 shares of the company’s stock worth $85,773,000 after buying an additional 139,348 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after buying an additional 1,076,921 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in shares of ODDITY Tech by 11.1% in the third quarter. Granahan Investment Management LLC now owns 1,506,457 shares of the company’s stock valued at $93,852,000 after buying an additional 151,110 shares during the period. Finally, Peregrine Capital Management LLC lifted its holdings in shares of ODDITY Tech by 31.2% in the fourth quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock valued at $7,654,000 after buying an additional 45,253 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.