ODDITY Tech (NASDAQ:ODD) Stock Price Up 9.6% – Time to Buy?

ODDITY Tech Ltd. (NASDAQ:ODD) shares shot up 9.6% during mid-day trading on Thursday . The stock traded as high as $12.01 and last traded at $12.0210. 168,030 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,898,385 shares. The stock had previously closed at $10.97.

Wall Street Analysts Forecast Growth

ODD has been the topic of a number of recent research reports. Weiss Ratings lowered shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 3rd. Citizens Jmp downgraded shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Wall Street Zen cut shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Nine analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Price Performance

The stock has a fifty day moving average of $13.17 and a 200-day moving average of $23.50. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $752.57 million, a price-to-earnings ratio of 16.54 and a beta of 2.47.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings data 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 company had revenue of $197.94 million for 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 firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. On average, equities research analysts predict that ODDITY Tech Ltd. will post -0.46 EPS for the current fiscal year.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 9,604 shares of ODDITY Tech stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total transaction of $123,411.40. Following the sale, the chief financial officer directly owned 49,054 shares in the company, valued at $630,343.90. This trade represents a 16.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 28,807 shares of company stock valued at $402,428.

Hedge Funds Weigh In On ODDITY Tech

Hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of ODDITY Tech by 16.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock worth $3,293,000 after purchasing an additional 10,582 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ODDITY Tech by 12.9% in the 2nd quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock valued at $5,660,000 after purchasing an additional 8,561 shares during the period. Legal & General Group Plc purchased a new position in ODDITY Tech during the 2nd quarter worth approximately $71,000. American Century Companies Inc. grew its stake in ODDITY Tech by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock worth $1,079,000 after buying an additional 2,105 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in ODDITY Tech during the second quarter worth approximately $327,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

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.