ODDITY Tech Ltd. (NASDAQ:ODD) Receives Average Recommendation of “Reduce” from Analysts

ODDITY Tech Ltd. (NASDAQ:ODD) has received a consensus recommendation of “Reduce” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.3864.

Several research firms have recently issued reports on ODD. Barclays decreased their price objective on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Wall Street Zen lowered ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Zacks Research lowered ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. The Goldman Sachs Group cut ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price target for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd.

ODDITY Tech Stock Performance

NASDAQ:ODD opened at $17.90 on Tuesday. The firm has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $21.45. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86. The firm has a market cap of $1.03 billion, a PE ratio of 22.66 and a beta of 2.37. ODDITY Tech has a 1-year low of $9.25 and a 1-year high of $77.83.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The firm had revenue of $197.94 million for the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The business’s quarterly revenue was down 26.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. On average, equities analysts expect that ODDITY Tech will post -0.46 EPS for the current year.

Insider Transactions at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the sale, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 128,805 shares of company stock valued at $1,932,910 in the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

Hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ODDITY Tech by 16.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 76,117 shares of the company’s stock valued at $3,293,000 after buying an additional 10,582 shares during the period. Geode Capital Management LLC boosted its holdings in ODDITY Tech by 12.9% in the second quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock valued at $5,660,000 after acquiring an additional 8,561 shares during the last quarter. Legal & General Group Plc acquired a new position in ODDITY Tech in the second quarter valued at $71,000. American Century Companies Inc. boosted its holdings in ODDITY Tech by 17.3% in the second quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock valued at $1,079,000 after acquiring an additional 2,105 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in ODDITY Tech during the second quarter valued at about $327,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.