ODDITY Tech (NASDAQ:ODD) Stock Rating Lowered by Zacks Research

ODDITY Tech (NASDAQ:ODDGet Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on ODD. The Goldman Sachs Group lowered ODDITY Tech from a “hold” rating to a “sell” rating and decreased their target price for the stock from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $10.25 price target on shares of ODDITY Tech in a research report on Tuesday, June 2nd. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Eight analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $25.39.

Read Our Latest Stock Analysis on ODDITY Tech

ODDITY Tech Stock Performance

NASDAQ ODD opened at $15.13 on Monday. The company’s 50 day simple moving average is $13.02 and its two-hundred day simple moving average is $21.85. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. ODDITY Tech has a 1 year low of $9.25 and a 1 year high of $77.83. The stock has a market capitalization of $871.19 million, a PE ratio of 19.15 and a beta of 2.47.

ODDITY Tech (NASDAQ:ODDGet Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The firm had revenue of $197.94 million for the quarter, compared to analysts’ expectations of $187.87 million. During the same quarter last year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. Analysts predict that ODDITY Tech will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,603 shares of ODDITY Tech stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $13.44, for a total transaction of $129,064.32. Following the transaction, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at approximately $1,044,408.96. This trade represents a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hedge Funds Weigh In On ODDITY Tech

A number of large investors have recently added to or reduced their stakes in the business. Avidity Partners Management LP purchased a new stake in ODDITY Tech during the 1st quarter valued at about $937,000. Segall Bryant & Hamill LLC purchased a new stake in shares of ODDITY Tech during the first quarter valued at approximately $488,000. Amundi grew its holdings in shares of ODDITY Tech by 17.8% in the first quarter. Amundi now owns 434,945 shares of the company’s stock worth $5,820,000 after purchasing an additional 65,647 shares during the last quarter. Empowered Funds LLC bought a new position in shares of ODDITY Tech in the first quarter worth approximately $1,275,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of ODDITY Tech in the first quarter worth $405,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

(Get Free Report)

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

See Also

Analyst Recommendations for ODDITY Tech (NASDAQ:ODD)

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