ODDITY Tech (NASDAQ:ODD) Stock Gets Price Target Increase from Morgan Stanley

ODDITY Tech (NASDAQ:ODD – Get Free Report) had its price target raised by analysts at Morgan Stanley from $16.50 to $18.50 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 17.85% from the stock’s current price.

Several other analysts also recently commented on the company. Citigroup reaffirmed a “market perform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Wall Street Zen downgraded ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 10th. Weiss Ratings raised ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. started coverage on ODDITY Tech in a research note on Monday, September 21st. They set a “neutral” rating and a $18.00 price target for the company. Finally, Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Eleven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $22.35.

Get Our Latest Analysis on ODDITY Tech

ODDITY Tech Stock Performance

NASDAQ ODD traded up $0.89 during trading on Thursday, reaching $22.52. The company’s stock had a trading volume of 402,746 shares, compared to its average volume of 1,616,580. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 94.37 and a beta of 2.24. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $52.00. The business’s fifty day moving average price is $16.31 and its 200-day moving average price is $14.92.

ODDITY Tech (NASDAQ:ODD – Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The business had revenue of $180.52 million during the quarter, compared to the consensus estimate of $178.23 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, analysts anticipate that ODDITY Tech will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of the sale, the chief financial officer owned 116,135 shares in the company, valued at $1,752,477.15. This trade represents 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 have sold a total of 62,852 shares of company stock valued at $938,716 in the last three months.

Institutional Trading of ODDITY Tech

Several hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd boosted its position in shares of ODDITY Tech by 364.7% during the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock worth $20,119,000 after purchasing an additional 392,967 shares in the last quarter. State Street Corp grew its stake in shares of ODDITY Tech by 123.5% during the 2nd quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after purchasing an additional 462,137 shares during the period. Amundi increased its holdings in shares of ODDITY Tech by 17.8% in the 1st quarter. Amundi now owns 434,945 shares of the company’s stock valued at $5,820,000 after purchasing an additional 65,647 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of ODDITY Tech in the 1st quarter valued at about $3,533,000. Finally, Halter Ferguson Financial Inc. purchased a new position in shares of ODDITY Tech in the 1st quarter valued at about $2,789,000. 35.88% of the stock is owned by institutional investors and hedge funds.

About ODDITY Tech

(Get Free Report)

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.

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Analyst Recommendations for ODDITY Tech (NASDAQ:ODD)

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