Oddity Tech (NASDAQ:ODD) Stock Price Down 2.6% – Here’s What Happened

Oddity Tech Ltd. (NASDAQ:ODD) shares traded down 2.6% during trading on Thursday . The company traded as low as $43.27 and last traded at $43.51. 145,535 shares changed hands during trading, a decline of 77% from the average session volume of 644,259 shares. The stock had previously closed at $44.67.

Analysts Set New Price Targets

A number of research firms recently commented on ODD. The Goldman Sachs Group initiated coverage on Oddity Tech in a research report on Friday, December 13th. They set a “neutral” rating and a $48.00 price objective for the company. Barclays lifted their price target on shares of Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Morgan Stanley upped their price objective on shares of Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Oddity Tech Stock Down 2.7 %

The stock has a fifty day moving average of $43.75 and a two-hundred day moving average of $40.66. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.49 and a beta of 4.46.

Oddity Tech (NASDAQ:ODD) last issued its earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $116.47 million. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Equities research analysts anticipate that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

Institutional Trading of Oddity Tech

Several large investors have recently added to or reduced their stakes in ODD. Massachusetts Financial Services Co. MA grew its position in Oddity Tech by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company’s stock valued at $49,996,000 after acquiring an additional 5,417 shares in the last quarter. Bamco Inc. NY increased its stake in Oddity Tech by 0.8% during the 3rd quarter. Bamco Inc. NY now owns 1,246,046 shares of the company’s stock worth $50,315,000 after buying an additional 9,665 shares during the period. Y.D. More Investments Ltd lifted its holdings in Oddity Tech by 8.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company’s stock worth $23,436,000 after buying an additional 47,390 shares in the last quarter. Hood River Capital Management LLC purchased a new position in Oddity Tech in the 2nd quarter valued at about $23,397,000. Finally, Janus Henderson Group PLC grew its stake in shares of Oddity Tech by 11.1% during the third quarter. Janus Henderson Group PLC now owns 492,198 shares of the company’s stock valued at $19,877,000 after acquiring an additional 49,101 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.