Oddity Tech (NASDAQ:ODD) Updates FY24 Earnings Guidance

Oddity Tech (NASDAQ:ODD) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.57-1.62 for the period, compared to the consensus earnings per share estimate of $1.41. The company issued revenue guidance of $626-635 million, compared to the consensus revenue estimate of $626.62 million. Oddity Tech also updated its Q2 guidance to $0.61-0.64 EPS.

Oddity Tech Stock Down 3.2 %

Oddity Tech stock traded down $1.05 during midday trading on Tuesday, hitting $31.26. 2,196,418 shares of the stock were exchanged, compared to its average volume of 854,085. The company has a fifty day simple moving average of $39.22 and a two-hundred day simple moving average of $38.86. Oddity Tech has a 52 week low of $24.12 and a 52 week high of $56.00. The stock has a market capitalization of $1.78 billion and a PE ratio of 30.91.

Oddity Tech (NASDAQ:ODD) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Oddity Tech had a net margin of 11.51% and a return on equity of 26.22%. The firm had revenue of $97.25 million for the quarter, compared to analyst estimates of $86.38 million. As a group, equities research analysts anticipate that Oddity Tech will post 1.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Oddity Tech from $44.00 to $50.00 and gave the company a buy rating in a research note on Thursday, March 7th. JMP Securities reiterated a market outperform rating and issued a $66.00 price objective on shares of Oddity Tech in a report on Thursday, March 7th. Evercore ISI initiated coverage on shares of Oddity Tech in a report on Thursday, April 4th. They issued an outperform rating and a $57.00 price objective on the stock. Barclays lowered their price objective on shares of Oddity Tech from $46.00 to $44.00 and set an equal weight rating on the stock in a report on Friday, April 12th. Finally, Morgan Stanley lifted their price objective on shares of Oddity Tech from $35.00 to $47.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $53.63.

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.