ODDITY Tech’s (ODD) Sector Weight Rating Reaffirmed at KeyCorp

KeyCorp reissued their sector weight rating on shares of ODDITY Tech (NASDAQ:ODD) in a report published on Wednesday morning, MarketBeat reports.

ODD has been the subject of a number of other research reports. Citizens Jmp downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Truist Financial restated a “hold” rating and issued a $18.00 target price (down from $80.00) on shares of ODDITY Tech in a research report on Wednesday, February 25th. Wall Street Zen downgraded ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Bank of America downgraded ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price for the company. in a research report on Thursday, February 26th. Finally, Evercore downgraded ODDITY Tech from an “outperform” rating to an “in-line” rating and set a $23.00 target price for the company. in a research report on Thursday, February 26th. Nine analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, ODDITY Tech currently has an average rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Stock Performance

Shares of ODD opened at $10.25 on Wednesday. The company has a market cap of $590.20 million, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.29 and a beta of 2.47. The company has a current ratio of 5.24, a quick ratio of 4.06 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average price of $13.81 and a 200-day moving average price of $25.81. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $78.28.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 14.59%. The business’s revenue was down 26.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. As a group, equities analysts forecast that ODDITY Tech will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ODDITY Tech 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 value of $123,411.40. Following the transaction, the chief financial officer directly owned 49,054 shares of the company’s stock, valued at $630,343.90. The trade was a 16.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 28,807 shares of company stock valued at $402,428.

Hedge Funds Weigh In On ODDITY Tech

Large investors have recently bought and sold shares of the stock. Citigroup Inc. grew its stake in ODDITY Tech by 220.4% in the third quarter. Citigroup Inc. now owns 228,786 shares of the company’s stock worth $14,253,000 after purchasing an additional 157,374 shares during the period. Bamco Inc. NY grew its stake in ODDITY Tech by 11.3% in the third quarter. Bamco Inc. NY now owns 1,376,781 shares of the company’s stock worth $85,773,000 after purchasing an additional 139,348 shares during the period. Baillie Gifford & Co. grew its stake in ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares during the period. Granahan Investment Management LLC grew its stake in ODDITY Tech by 11.1% in the third quarter. Granahan Investment Management LLC now owns 1,506,457 shares of the company’s stock worth $93,852,000 after purchasing an additional 151,110 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in ODDITY Tech in the third quarter worth $1,532,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

ODDITY Tech News Summary

Here are the key news stories impacting ODDITY Tech this week:

• Negative Sentiment: Goldman Sachs reaffirmed its sell rating and cut its price target on ODDITY Tech to $8 from $16, signaling meaningful downside from current levels. Benzinga
• Negative Sentiment: Morgan Stanley lowered its target to $10 from $16 and moved to equal weight, reinforcing the view that the stock may be fairly valued at best after the earnings reset. Benzinga
• Negative Sentiment: Truist cut its price target to $12 from $18, keeping a hold rating as analysts continue to trim expectations following the quarter. Benzinga

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.