Oddity Tech (NASDAQ:ODD) Shares Up 6.8% on Analyst Upgrade

Shares of Oddity Tech Ltd. (NASDAQ:ODD) shot up 6.8% on Friday after Barclays raised their price target on the stock from $42.00 to $46.00. Barclays currently has an equal weight rating on the stock. Oddity Tech traded as high as $47.75 and last traded at $48.19. 111,068 shares were traded during trading, a decline of 75% from the average session volume of 452,347 shares. The stock had previously closed at $45.11.

Other equities research analysts have also issued research reports about the stock. Bank of America raised their price target on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group started coverage on Oddity Tech in a report on Friday, December 13th. They issued a “neutral” rating and a $48.00 price objective for the company. KeyCorp raised their price objective on Oddity Tech from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Morgan Stanley upped their target price on shares of Oddity Tech from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Oddity Tech in a research report on Friday, January 31st. They set an “overweight” rating and a $55.00 price target for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.44.

Institutional Trading of Oddity Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its stake in shares of Oddity Tech by 1.1% in the fourth quarter. D.A. Davidson & CO. now owns 25,838 shares of the company’s stock worth $1,086,000 after purchasing an additional 273 shares in the last quarter. Wells Fargo & Company MN lifted its position in Oddity Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock worth $126,000 after buying an additional 449 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Oddity Tech by 5.1% during the 4th quarter. American Century Companies Inc. now owns 12,334 shares of the company’s stock worth $518,000 after purchasing an additional 593 shares during the period. Geode Capital Management LLC grew its stake in shares of Oddity Tech by 1.2% during the third quarter. Geode Capital Management LLC now owns 63,625 shares of the company’s stock valued at $2,569,000 after buying an additional 750 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in Oddity Tech in the fourth quarter worth $42,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Oddity Tech Stock Performance

The company has a market cap of $2.71 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 1.48 and a beta of 4.34. The business’s fifty day moving average is $44.16 and its two-hundred day moving average is $41.89.

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.