ODDITY Tech (NASDAQ:ODD – Free Report) had its price objective hoisted by Jefferies Financial Group from $16.00 to $18.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.
A number of other equities research analysts have also recently commented on the company. Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Truist Financial boosted their price target on ODDITY Tech from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, September 1st. Needham & Company LLC reiterated a “hold” rating on shares of ODDITY Tech in a research note on Tuesday. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Finally, Morgan Stanley cut their price target on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $27.23.
ODDITY Tech Stock Performance
ODDITY Tech (NASDAQ:ODD – Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%.The firm had revenue of $180.52 million during the quarter, compared to analysts’ expectations of $178.23 million. During the same quarter last year, the firm earned $0.92 EPS. The business’s quarterly revenue was down 24.9% on a year-over-year basis. Analysts expect that ODDITY Tech will post -0.55 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Mann Drucker sold 7,717 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the sale, the chief financial officer owned 116,135 shares in the company, valued at $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 172,454 shares of company stock valued at $2,592,610 in the last 90 days.
Institutional Trading of ODDITY Tech
Several institutional investors and hedge funds have recently bought and sold shares of ODD. Wexford Capital LP purchased a new stake in shares of ODDITY Tech in the 3rd quarter valued at $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ODDITY Tech by 134.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after purchasing an additional 651 shares during the last quarter. USS Investment Management Ltd raised its holdings in shares of ODDITY Tech by 5.3% during the fourth quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock worth $552,000 after purchasing an additional 695 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of ODDITY Tech by 2.0% during the fourth quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock worth $1,749,000 after purchasing an additional 870 shares during the last quarter. Finally, Entropy Technologies LP lifted its position in ODDITY Tech by 10.0% during the third quarter. Entropy Technologies LP now owns 9,900 shares of the company’s stock valued at $617,000 after purchasing an additional 900 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.
ODDITY Tech News Summary
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. 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.
Read More
- Five stocks we like better than ODDITY Tech
- Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model
- Kroger’s Textbook Entry for Buy-and-Hold Investors
- AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window
- Amgen Drops 10% on a Trial It Didn’t Even Run
Receive News & Ratings for ODDITY Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ODDITY Tech and related companies with MarketBeat.com's FREE daily email newsletter.
