ODDITY Tech (NASDAQ:ODD) Reaches New 1-Year Low – What’s Next?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) hit a new 52-week low during trading on Tuesday . The company traded as low as $10.80 and last traded at $12.31, with a volume of 6124382 shares. The stock had previously closed at $11.77.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ODD shares. Needham & Company LLC lowered ODDITY Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, February 25th. KeyCorp cut their target price on ODDITY Tech from $50.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Barclays reissued an “underweight” rating and set a $13.00 price target (down from $40.00) on shares of ODDITY Tech in a research report on Thursday, February 26th. Truist Financial reaffirmed a “hold” rating and issued a $18.00 price target (down from $80.00) on shares of ODDITY Tech in a report on Wednesday, February 25th. Finally, Evercore downgraded shares of ODDITY Tech from an “outperform” rating to an “in-line” rating and set a $23.00 price objective on the stock. in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, ODDITY Tech currently has a consensus rating of “Reduce” and a consensus target price of $31.73.

ODDITY Tech Trading Up 4.6%

The stock has a market cap of $687.27 million, a price-to-earnings ratio of 6.84, a P/E/G ratio of 0.47 and a beta of 3.55. The business’s fifty day simple moving average is $32.77 and its 200 day simple moving average is $44.72. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.24 and a quick ratio of 4.06.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. ODDITY Tech had a net margin of 13.68% and a return on equity of 29.84%. The business had revenue of $152.73 million during the quarter, compared to analyst estimates of $151.11 million. During the same period in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, research analysts predict that ODDITY Tech Ltd. will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in ODDITY Tech by 5.0% during the third quarter. Blue Trust Inc. now owns 5,988 shares of the company’s stock valued at $373,000 after buying an additional 285 shares in the last quarter. TD Asset Management Inc raised its position in ODDITY Tech by 7.7% in the third quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock worth $413,000 after acquiring an additional 476 shares in the last quarter. Wexford Capital LP acquired a new stake in ODDITY Tech in the 3rd quarter valued at about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock valued at $69,000 after purchasing an additional 651 shares in the last quarter. Finally, USS Investment Management Ltd boosted its position in shares of ODDITY Tech by 5.3% during the 4th quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock valued at $552,000 after purchasing an additional 695 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

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.