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

ODDITY Tech Ltd. (NASDAQ:ODD) has been assigned a consensus recommendation of “Reduce” from the thirteen analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.3864.

ODD has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 target price on shares of ODDITY Tech in a report on Tuesday, June 2nd. Morgan Stanley cut their target price on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Zacks Research cut shares of ODDITY Tech from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd.

ODDITY Tech Stock Down 1.2%

ODD opened at $15.34 on Friday. The business has a 50 day moving average price of $13.80 and a 200 day moving average price of $18.84. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $75.45. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The firm has a market cap of $883.20 million, a P/E ratio of 19.42 and a beta of 2.37.

ODDITY Tech (NASDAQ:ODD) last announced its 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 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. Research analysts forecast that ODDITY Tech will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total value of $1,653,894.18. Following the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This trade represents a 58.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 128,805 shares of company stock worth $1,932,910.

Institutional Investors Weigh In On ODDITY Tech

Several hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its holdings in shares of ODDITY Tech by 115.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares during the period. Baillie Gifford & Co. raised its position in shares of ODDITY Tech by 17.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after buying an additional 1,076,921 shares during the last quarter. Morgan Stanley lifted its stake in shares of ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after buying an additional 525,481 shares during the period. Wellington Management Group LLP bought a new stake in shares of ODDITY Tech in the third quarter valued at about $27,838,000. Finally, Altshuler Shaham Ltd raised its holdings in ODDITY Tech by 364.7% in the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after acquiring an additional 392,967 shares in the last quarter. 35.88% of the stock is owned by institutional investors.

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.