ODDITY Tech’s (ODD) Sell Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reiterated their sell rating on shares of ODDITY Tech (NASDAQ:ODD) in a report issued on Wednesday morning,Benzinga reports. They currently have a $8.00 price target on the stock, down from their previous price target of $16.00.

Other equities research analysts have also recently issued research reports about the company. Bank of America cut ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Thursday, February 26th. Wall Street Zen cut ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Jefferies Financial Group reissued a “hold” rating and set a $10.25 target price on shares of ODDITY Tech in a report on Tuesday. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a report on Tuesday. Nine investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Stock Performance

ODD opened at $10.25 on Wednesday. The business’s 50 day moving average is $13.81 and its 200-day moving average is $25.81. The stock 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. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $78.28.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share 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 quarterly revenue was down 26.2% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. On average, analysts predict that ODDITY Tech will post 0.64 earnings per share for the current year.

Insider Activity

In related news, CFO Mann Lindsay Drucker sold 9,603 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $13.44, for a total transaction of $129,064.32. Following the completion of the sale, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,044,408.96. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,807 shares of company stock worth $402,428 in the last ninety days.

Institutional Trading of ODDITY Tech

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its holdings in shares of ODDITY Tech by 220.4% during the third quarter. Citigroup Inc. now owns 228,786 shares of the company’s stock worth $14,253,000 after acquiring an additional 157,374 shares in the last quarter. Bamco Inc. NY lifted 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 valued at $85,773,000 after purchasing an additional 139,348 shares during the last quarter. Baillie Gifford & Co. lifted 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 valued at $286,188,000 after purchasing an additional 1,076,921 shares during the last quarter. Granahan Investment Management LLC lifted its stake in shares of ODDITY Tech by 11.1% in the 3rd quarter. Granahan Investment Management LLC now owns 1,506,457 shares of the company’s stock valued at $93,852,000 after purchasing an additional 151,110 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of ODDITY Tech in the 3rd quarter valued at $1,532,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about ODDITY Tech

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

About ODDITY Tech

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.