Lord Abbett & CO. LLC Boosts Position in ODDITY Tech Ltd. (NASDAQ:ODD)

Lord Abbett & CO. LLC increased its holdings in shares of ODDITY Tech Ltd. (NASDAQ:ODD) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,257 shares of the company’s stock after purchasing an additional 4,844 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.34% of ODDITY Tech worth $8,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ODD. Deutsche Bank AG lifted its stake in ODDITY Tech by 65.0% in the first quarter. Deutsche Bank AG now owns 1,340 shares of the company’s stock valued at $58,000 after buying an additional 528 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of ODDITY Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after purchasing an additional 449 shares during the period. Federated Hermes Inc. acquired a new position in shares of ODDITY Tech in the first quarter valued at approximately $190,000. PharVision Advisers LLC acquired a new position in shares of ODDITY Tech in the fourth quarter valued at approximately $299,000. Finally, Blue Trust Inc. increased its holdings in shares of ODDITY Tech by 15.4% in the first quarter. Blue Trust Inc. now owns 7,573 shares of the company’s stock valued at $328,000 after purchasing an additional 1,008 shares during the period. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Trading Up 3.1%

Shares of ODD stock opened at $60.13 on Friday. The business’s fifty day moving average price is $69.59 and its 200 day moving average price is $57.46. ODDITY Tech Ltd. has a 1-year low of $32.71 and a 1-year high of $79.18. The firm has a market capitalization of $3.36 billion, a PE ratio of 33.41, a P/E/G ratio of 2.78 and a beta of 3.27. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.32 and a quick ratio of 5.57.

ODDITY Tech (NASDAQ:ODD) last posted its earnings results on Monday, August 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $241.14 million for the quarter, compared to the consensus estimate of $237.44 million. ODDITY Tech had a return on equity of 32.17% and a net margin of 14.65%. ODDITY Tech’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, sell-side analysts forecast that ODDITY Tech Ltd. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ODD. The Goldman Sachs Group boosted their target price on ODDITY Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Barclays boosted their target price on ODDITY Tech from $60.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Bank of America boosted their target price on ODDITY Tech from $68.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 27th. Truist Financial boosted their target price on ODDITY Tech from $65.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, KeyCorp boosted their target price on ODDITY Tech from $65.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, ODDITY Tech has a consensus rating of “Moderate Buy” and an average price target of $74.88.

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.