Oddity Tech (NASDAQ:ODD) Shares Gap Down to $40.99

Oddity Tech Ltd. (NASDAQ:ODD) gapped down prior to trading on Tuesday . The stock had previously closed at $40.99, but opened at $33.53. Oddity Tech shares last traded at $36.08, with a volume of 1,289,413 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ODD shares. Morgan Stanley increased their price objective on shares of Oddity Tech from $35.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. JMP Securities reiterated a “market outperform” rating and set a $66.00 price objective on shares of Oddity Tech in a research report on Thursday, March 7th. Evercore ISI assumed coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They set an “outperform” rating and a $57.00 price objective for the company. Bank of America raised their price target on shares of Oddity Tech from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Barclays reduced their price target on shares of Oddity Tech from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.38.

Oddity Tech Price Performance

The stock has a market capitalization of $2.12 billion and a price-to-earnings ratio of 31.06. The business’s fifty day moving average price is $38.03 and its 200-day moving average price is $39.82.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $97.25 million during the quarter, compared to analysts’ expectations of $86.38 million. Oddity Tech had a net margin of 12.97% and a return on equity of 26.10%. Equities research analysts predict that Oddity Tech Ltd. will post 1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODD. Parallel Advisors LLC boosted its holdings in Oddity Tech by 69.7% during the fourth quarter. Parallel Advisors LLC now owns 594 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares during the last quarter. M&T Bank Corp bought a new stake in Oddity Tech in the fourth quarter worth about $203,000. Greycroft LP bought a new stake in Oddity Tech in the third quarter worth about $227,000. TD Asset Management Inc bought a new stake in Oddity Tech in the third quarter worth about $261,000. Finally, Janney Montgomery Scott LLC bought a new stake in Oddity Tech in the first quarter worth about $301,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.