ODDITY Tech (NASDAQ:ODD) Price Target Lowered to $12.00 at Truist Financial

ODDITY Tech (NASDAQ:ODD) had its target price reduced by Truist Financial from $18.00 to $12.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also issued reports on ODD. Evercore lowered ODDITY Tech from an “outperform” rating to an “in-line” rating and set a $23.00 price target for the company. in a research note on Thursday, February 26th. Barclays decreased their target price on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday. Weiss Ratings lowered ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 3rd. Zacks Research lowered ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research report on Tuesday. Nine equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Price Performance

Shares of ODDITY Tech stock opened at $10.25 on Wednesday. The stock has a market cap of $590.20 million, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.29 and a beta of 2.47. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.06 and a current ratio of 5.24. 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 one year low of $9.25 and a one 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). ODDITY Tech had a return on equity of 14.59% and a net margin of 6.97%.The business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period in the prior year, the business posted $0.69 earnings per share. ODDITY Tech’s revenue was down 26.2% on a year-over-year basis. Equities analysts expect that ODDITY Tech will post 0.64 EPS for the current year.

Insider Activity

In other news, CFO Mann Lindsay Drucker sold 9,604 shares of ODDITY Tech stock in a transaction 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 in the company, valued at approximately $630,343.90. This trade represents a 16.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 28,807 shares of company stock valued at $402,428.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wexford Capital LP purchased a new position in ODDITY Tech during the 3rd quarter worth $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after buying an additional 651 shares during the last quarter. Legal & General Group Plc purchased a new position in ODDITY Tech during the 2nd quarter worth $71,000. Quaker Wealth Management LLC grew its stake in ODDITY Tech by 530.3% during the 3rd quarter. Quaker Wealth Management LLC now owns 1,664 shares of the company’s stock worth $104,000 after buying an additional 1,400 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in ODDITY Tech during the 1st quarter worth $104,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

Key ODDITY Tech News

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.