ODDITY Tech (NASDAQ:ODD) Sets New 12-Month Low After Analyst Downgrade

ODDITY Tech Ltd. (NASDAQ:ODD) shares reached a new 52-week low during trading on Wednesday after Jefferies Financial Group downgraded the stock from a buy rating to a hold rating. Jefferies Financial Group now has a $18.00 price target on the stock. ODDITY Tech traded as low as $13.09 and last traded at $13.9250, with a volume of 8199394 shares changing hands. The stock had previously closed at $29.02.

A number of other brokerages have also recently issued reports on ODD. Zacks Research cut ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of ODDITY Tech in a report on Thursday, November 20th. Morgan Stanley cut their target price on shares of ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday, November 21st. KeyCorp reiterated an “overweight” rating on shares of ODDITY Tech in a research report on Friday. Finally, Wall Street Zen raised shares of ODDITY Tech from a “sell” rating to a “hold” rating in a research report on Sunday, November 30th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.40.

Institutional Trading of ODDITY Tech

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in shares of ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after acquiring an additional 1,076,921 shares in the last quarter. Morgan Stanley lifted its position in ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after purchasing an additional 525,481 shares during the period. Janus Henderson Group PLC lifted its position in ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after purchasing an additional 1,296,551 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in ODDITY Tech by 1.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,125 shares of the company’s stock valued at $108,285,000 after purchasing an additional 28,930 shares in the last quarter. Finally, Granahan Investment Management LLC increased its position in ODDITY Tech by 1.1% during the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after purchasing an additional 16,747 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Trading Down 51.8%

The firm has a market capitalization of $780.84 million, a PE ratio of 7.82, a P/E/G ratio of 1.19 and a beta of 3.18. The business has a 50 day moving average price of $35.08 and a 200-day moving average price of $46.02. The company has a current ratio of 7.54, a quick ratio of 6.42 and a debt-to-equity ratio of 1.53.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $152.73 million for the quarter, compared to the consensus estimate of $151.11 million. ODDITY Tech had a return on equity of 31.68% and a net margin of 14.11%.The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Analysts expect that ODDITY Tech Ltd. will post 1.62 earnings per share for the current year.

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.