Wall Street Zen upgraded shares of ODDITY Tech (NASDAQ:ODD – Free Report) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.
A number of other research firms have also commented on ODD. Truist Financial raised their price objective on shares of ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley boosted their target price on ODDITY Tech from $10.00 to $16.50 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group downgraded ODDITY Tech from a “hold” rating to a “sell” rating and cut their target price for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group lifted their price target on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday. Ten research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $27.23.
Check Out Our Latest Stock Analysis on ODD
ODDITY Tech Stock Performance
ODDITY Tech (NASDAQ:ODD – Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $180.52 million for the quarter, compared to the consensus estimate of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. ODDITY Tech’s revenue was down 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. On average, sell-side analysts anticipate that ODDITY Tech will post -0.55 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Mann Drucker sold 7,717 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total transaction of $116,449.53. Following the sale, the chief financial officer directly owned 116,135 shares of the company’s stock, valued at $1,752,477.15. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 172,454 shares of company stock worth $2,592,610 over the last quarter.
Hedge Funds Weigh In On ODDITY Tech
Institutional investors have recently bought and sold shares of the stock. Wexford Capital LP purchased a new stake in ODDITY Tech during the third quarter valued at about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ODDITY Tech by 134.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of ODDITY Tech during the second quarter valued at approximately $71,000. SG Americas Securities LLC acquired a new stake in shares of ODDITY Tech during the first quarter valued at approximately $104,000. Finally, Headlands Technologies LLC purchased a new stake in shares of ODDITY Tech in the 2nd quarter valued at approximately $108,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.
ODDITY Tech News Roundup
Here are the key news stories impacting ODDITY Tech this week:
- Positive Sentiment: ODDITY Tech reported quarterly earnings of $0.20 per share, exceeding the $0.12 consensus estimate, while revenue of $180.52 million also came in ahead of expectations. The earnings surprise appears to be the primary catalyst behind the stock’s upward move. ODDITY Tech Shares Gap Up Following Earnings Beat
- Positive Sentiment: Jefferies Financial Group indicated that ODDITY Tech’s stock is expected to rise, adding to the bullish interpretation of the earnings results. ODDITY Tech Stock Price Expected to Rise
- Positive Sentiment: An investment analysis highlighted turnaround potential from improving customer-acquisition costs, growth at SpoiledChild, and longer-term opportunities from METHODIQ and Labs. ODDITY’s discounted, zero-coupon convertible debt may also provide financial flexibility. Oddity Tech Turnaround Potential and Discounted Debt Value Lever
- Neutral Sentiment: Morgan Stanley raised its price target from $10.00 to $16.50 but retained an Equal Weight rating, while Truist lifted its target from $16.00 to $18.00 and maintained a Hold rating. The increases suggest improved expectations, but both targets remain at or below the recent trading level.
- Neutral Sentiment: Needham reaffirmed its Hold rating, indicating that the earnings beat has not yet changed its broader view of the company.
- Negative Sentiment: Despite the earnings beat, revenue declined 24.9% year over year and quarterly earnings fell sharply from $0.92 per share in the prior-year period. The company’s net margin was only 2.23%, underscoring ongoing profitability concerns. Oddity Tech Reveals Drop in Q2 Bottom Line
- Negative Sentiment: Barclays issued a Sell rating, adding a significant bearish voice as investors assess whether the reported improvement represents a durable recovery. ODDITY Tech Receives a Sell from Barclays
ODDITY Tech Company Profile
ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.
ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.
Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.
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