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

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) have earned a consensus rating of “Reduce” from the thirteen research firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $25.3864.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price target on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Barclays lowered their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, June 3rd. The Goldman Sachs Group downgraded ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price target for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 9,603 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were 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 owned 77,709 shares of the company’s stock, valued at $1,044,408.96. This represents a 11.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Investors Weigh In On ODDITY Tech

A number of institutional investors have recently modified their holdings of ODD. Avidity Partners Management LP bought a new position in ODDITY Tech during the 1st quarter worth $937,000. Segall Bryant & Hamill LLC bought a new position in ODDITY Tech in the 1st quarter worth about $488,000. Amundi grew its position in ODDITY Tech by 17.8% in the 1st quarter. Amundi now owns 434,945 shares of the company’s stock worth $5,820,000 after purchasing an additional 65,647 shares during the last quarter. Empowered Funds LLC bought a new position in ODDITY Tech in the 1st quarter worth about $1,275,000. Finally, OMERS ADMINISTRATION Corp bought a new position in ODDITY Tech in the 1st quarter worth about $405,000. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Price Performance

ODD opened at $14.29 on Tuesday. The company has a 50-day moving average of $13.03 and a 200-day moving average of $22.06. The company has a market capitalization of $822.82 million, a P/E ratio of 18.09 and a beta of 2.48. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $77.83. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million during the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the firm posted $0.69 EPS. ODDITY Tech’s revenue for the quarter was down 26.2% on a year-over-year basis. Equities analysts expect that ODDITY Tech will post -0.46 EPS for the current fiscal year.

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.