Oddity Tech (NASDAQ:ODD) Releases FY 2024 Earnings Guidance

Oddity Tech (NASDAQ:ODD) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.850-1.870 for the period, compared to the consensus earnings per share estimate of 1.760. The company issued revenue guidance of $642.0 million-$644.0 million, compared to the consensus revenue estimate of $638.5 million. Oddity Tech also updated its Q4 guidance to $0.11-0.13 EPS.

Analysts Set New Price Targets

Separately, Barclays decreased their target price on Oddity Tech from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

Oddity Tech Stock Up 9.1 %

NASDAQ ODD traded up $3.83 during midday trading on Friday, hitting $45.94. The company had a trading volume of 660,508 shares, compared to its average volume of 230,469. The firm has a fifty day simple moving average of $38.43 and a two-hundred day simple moving average of $38.57. Oddity Tech has a fifty-two week low of $27.52 and a fifty-two week high of $50.36. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 1.49 and a beta of 4.40.

Oddity Tech (NASDAQ:ODD) last released its earnings results on Wednesday, August 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.24. Oddity Tech had a net margin of 16.32% and a return on equity of 29.70%. The business had revenue of $192.77 million during the quarter, compared to analysts’ expectations of $188.49 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 27.4% on a year-over-year basis. As a group, equities analysts predict that Oddity Tech will post 1.46 earnings per share for the current 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.