ODDITY Tech Ltd. (NASDAQ:ODD) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) have earned a consensus recommendation of “Reduce” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $25.3864.

A number of equities analysts have weighed in on ODD shares. Barclays lowered their price objective on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday. Bank of America lowered ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research note on Thursday, February 26th. The Goldman Sachs Group lowered ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $16.00 to $8.00 in a research note on Wednesday. Citizens Jmp lowered ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Truist Financial lowered their price objective on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,604 shares of the business’s stock in a transaction 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 approximately $630,343.90. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 28,807 shares of company stock worth $402,428 over the last quarter.

Hedge Funds Weigh In On ODDITY Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wexford Capital LP purchased a new stake in ODDITY Tech in the third quarter valued at $40,000. Legal & General Group Plc purchased a new stake in ODDITY Tech in the second quarter valued at $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ODDITY Tech by 134.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock valued at $69,000 after purchasing an additional 651 shares during the period. Headlands Technologies LLC purchased a new stake in ODDITY Tech in the second quarter valued at $108,000. Finally, Quaker Wealth Management LLC raised its position in ODDITY Tech by 530.3% in the third quarter. Quaker Wealth Management LLC now owns 1,664 shares of the company’s stock valued at $104,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

Trending Headlines about ODDITY Tech

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

• Negative Sentiment: ODDITY Tech posted disappointing Q1 results, with earnings missing estimates and management cutting its Q2 revenue outlook sharply, which is the main reason shares are falling. Oddity Tech (ODD) Is Down 18.7% After Weak Q1 Results And Steep Q2 Revenue Guidance Cut
• Negative Sentiment: Goldman Sachs reiterated a Sell rating and cut its price target to $8.00, signaling more downside risk. ODDITY Tech’s (ODD) Sell Rating Reaffirmed at The Goldman Sachs Group
• Negative Sentiment: Morgan Stanley lowered its price target to $10.00 from $16.00, adding to concern that analysts see limited near-term upside. ODDITY Tech (NASDAQ:ODD) Price Target Lowered to $10.00 at Morgan Stanley
• Negative Sentiment: Truist also trimmed its target to $12.00, though it kept a Hold rating, reflecting softer expectations for the stock. ODDITY Tech (NASDAQ:ODD) Price Target Lowered to $12.00 at Truist Financial

ODDITY Tech Stock Performance

Shares of NASDAQ:ODD opened at $10.07 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 4.06. The business’s 50 day moving average price is $13.74 and its 200-day moving average price is $25.61. The firm has a market capitalization of $579.83 million, a PE ratio of 12.75, a P/E/G ratio of 1.34 and a beta of 2.47. ODDITY Tech has a 1 year low of $9.25 and a 1 year 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 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 revenue was down 26.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts expect that ODDITY Tech will post 0.64 earnings per share for the current fiscal year.

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.