ODDITY Tech (NASDAQ:ODD) Stock Price Up 7.3% – Should You Buy?

ODDITY Tech Ltd. (NASDAQ:ODD) rose 7.3% during trading on Thursday . The stock traded as high as $13.97 and last traded at $13.9550. Approximately 4,039,768 shares traded hands during trading, an increase of 75% from the average daily volume of 2,303,152 shares. The stock had previously closed at $13.00.

Wall Street Analyst Weigh In

ODD has been the subject of a number of analyst reports. Bank of America downgraded shares of ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Thursday, February 26th. Morgan Stanley decreased their price target on ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, November 21st. Needham & Company LLC downgraded ODDITY Tech from a “buy” rating to a “hold” rating in a report on Wednesday, February 25th. Wall Street Zen cut ODDITY Tech from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Barclays reiterated an “underweight” rating and issued a $13.00 price target (down from $40.00) on shares of ODDITY Tech in a research note on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ODDITY Tech has a consensus rating of “Reduce” and an average price target of $31.73.

ODDITY Tech Trading Up 7.2%

The business has a 50-day moving average of $31.60 and a 200-day moving average of $44.17. The stock has a market capitalization of $777.71 million, a price-to-earnings ratio of 7.74, a PEG ratio of 1.61 and a beta of 3.54. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.06 and a current ratio of 5.24.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.The business had revenue of $152.73 million during the quarter, compared to the consensus estimate of $151.11 million. During the same period in the prior year, the company earned $0.20 earnings per share. The company’s revenue was up 23.8% compared to the same quarter last year. As a group, research analysts forecast that ODDITY Tech Ltd. will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. boosted its holdings in shares of ODDITY Tech by 220.4% in the third quarter. Citigroup Inc. now owns 228,786 shares of the company’s stock valued at $14,253,000 after acquiring an additional 157,374 shares in the last quarter. JPMorgan Chase & Co. lifted its position in ODDITY Tech by 378.5% in the second quarter. JPMorgan Chase & Co. now owns 671,724 shares of the company’s stock valued at $50,695,000 after purchasing an additional 531,334 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in ODDITY Tech in the 2nd quarter valued at approximately $1,029,000. Entropy Technologies LP purchased a new stake in ODDITY Tech in the 2nd quarter valued at approximately $679,000. Finally, Bank of Montreal Can acquired a new position in ODDITY Tech during the 2nd quarter worth approximately $533,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.