Oddity Tech (NASDAQ:ODD) Trading Down 4.3% – Here’s Why

Oddity Tech Ltd. (NASDAQ:ODD)’s share price fell 4.3% during mid-day trading on Friday . The company traded as low as $44.12 and last traded at $44.80. Approximately 143,034 shares changed hands during trading, a decline of 64% from the average session volume of 392,895 shares. The stock had previously closed at $46.80.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ODD shares. KeyCorp raised their target price on Oddity Tech from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on Oddity Tech from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Barclays increased 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. JPMorgan Chase & Co. started coverage on Oddity Tech in a research report on Friday, January 31st. They issued an “overweight” rating and a $55.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Oddity Tech in a research report on Friday, December 13th. They set a “neutral” rating and a $48.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.11.

Oddity Tech Trading Down 12.5 %

The stock has a market capitalization of $2.33 billion, a PE ratio of 25.02, a PEG ratio of 1.51 and a beta of 4.34. The business’s 50 day moving average is $45.28 and its 200 day moving average is $41.49.

Oddity Tech (NASDAQ:ODD) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $116.47 million. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, analysts anticipate that Oddity Tech Ltd. will post 1.64 EPS for the current year.

Institutional Trading of Oddity Tech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mendota Financial Group LLC acquired a new stake in shares of Oddity Tech during the 3rd quarter worth about $162,000. Wesbanco Bank Inc. purchased a new stake in Oddity Tech during the 3rd quarter worth about $751,000. Blue Trust Inc. grew its holdings in Oddity Tech by 13.3% during the 3rd quarter. Blue Trust Inc. now owns 4,834 shares of the company’s stock worth $190,000 after acquiring an additional 566 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of Oddity Tech by 44.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 20,280 shares of the company’s stock worth $819,000 after acquiring an additional 6,280 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Oddity Tech by 267.9% during the 3rd quarter. GSA Capital Partners LLP now owns 30,649 shares of the company’s stock worth $1,238,000 after buying an additional 22,319 shares during the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

About Oddity Tech

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.