Oddity Tech (NASDAQ:ODD) Trading Down 2.6% – Here’s What Happened

Oddity Tech Ltd. (NASDAQ:ODD)’s stock price fell 2.6% during trading on Thursday . The stock traded as low as $43.27 and last traded at $43.51. 145,535 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 644,259 shares. The stock had previously closed at $44.67.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ODD. Barclays lifted their price objective on Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Morgan Stanley lifted their price target on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group assumed coverage on Oddity Tech in a report on Friday, December 13th. They issued a “neutral” rating and a $48.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Oddity Tech Trading Up 0.2 %

The company has a market cap of $2.48 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.49 and a beta of 4.45. The business has a fifty day moving average of $43.86 and a two-hundred day moving average of $40.68.

Oddity Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $116.47 million. During the same period in the previous year, the business earned $0.06 earnings per share. The business’s revenue was up 26.0% compared to the same quarter last year. On average, research analysts forecast that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Oddity Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Oddity Tech by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company’s stock valued at $49,996,000 after acquiring an additional 5,417 shares in the last quarter. Bamco Inc. NY lifted its holdings in Oddity Tech by 0.8% in the 3rd quarter. Bamco Inc. NY now owns 1,246,046 shares of the company’s stock valued at $50,315,000 after purchasing an additional 9,665 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Oddity Tech by 8.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company’s stock valued at $23,436,000 after purchasing an additional 47,390 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in Oddity Tech during the 2nd quarter worth $23,397,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Oddity Tech by 11.1% during the third quarter. Janus Henderson Group PLC now owns 492,198 shares of the company’s stock worth $19,877,000 after buying an additional 49,101 shares in the last quarter. 35.88% of the stock is 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.