ODDITY Tech (NASDAQ:ODD) Trading 6.7% Higher – Time to Buy?

ODDITY Tech Ltd. (NASDAQ:ODD) shares shot up 6.7% on Wednesday . The company traded as high as $17.25 and last traded at $17.4510. 42,389 shares changed hands during trading, a decline of 98% from the average session volume of 1,862,624 shares. The stock had previously closed at $16.35.

Analysts Set New Price Targets

A number of equities analysts recently commented on ODD shares. The Goldman Sachs Group cut ODDITY Tech from a “hold” rating to a “sell” rating and reduced their price target for the stock from $16.00 to $8.00 in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price objective on shares of ODDITY Tech in a report on Tuesday, June 2nd. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Zacks Research lowered ODDITY Tech from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Finally, 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. Eight investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Stock Performance

The stock has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $20.07. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 22.15 and a beta of 2.37.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. During the same period in the previous year, the company posted $0.69 EPS. The company’s quarterly revenue was down 26.2% on a year-over-year basis. Analysts expect that ODDITY Tech Ltd. will post -0.55 EPS for the current fiscal year.

Insider Activity at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 77,709 shares in the company, valued at $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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. In the last quarter, insiders sold 128,805 shares of company stock worth $1,932,910.

Institutional Investors Weigh In On ODDITY Tech

Several institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ODDITY Tech by 16.1% in the first 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 purchasing an additional 10,582 shares during the period. Geode Capital Management LLC boosted its holdings in ODDITY Tech by 12.9% in the 2nd quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock worth $5,660,000 after buying an additional 8,561 shares during the period. Legal & General Group Plc purchased a new position in ODDITY Tech in the 2nd quarter valued at approximately $71,000. American Century Companies Inc. grew its stake in ODDITY Tech by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 14,300 shares of the company’s stock valued at $1,079,000 after buying an additional 2,105 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in ODDITY Tech during the 2nd quarter valued at $327,000. 35.88% of the stock is 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.