ODDITY Tech Ltd. (NASDAQ:ODD) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) have received a consensus rating of “Reduce” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.3864.

Several equities research analysts have recently commented on ODD shares. Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Zacks Research raised ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Barclays reduced their price objective on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, June 3rd. The Goldman Sachs Group downgraded ODDITY Tech from a “hold” rating to a “sell” rating and decreased their target price for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Finally, Morgan Stanley lowered their target price on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 11,473 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $15.10, for a total value of $173,242.30. Following the sale, the chief financial officer directly owned 104,492 shares in the company, valued at $1,577,829.20. The trade was a 9.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 130,678 shares of company stock valued at $1,956,201.

Hedge Funds Weigh In On ODDITY Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new stake in ODDITY Tech during the 1st quarter worth $1,275,000. Rice Hall James & Associates LLC purchased a new position in ODDITY Tech in the 1st quarter valued at about $3,533,000. Peregrine Capital Management LLC boosted its position in ODDITY Tech by 31.2% in the 4th quarter. Peregrine Capital Management LLC now owns 190,485 shares of the company’s stock valued at $7,654,000 after buying an additional 45,253 shares during the last quarter. Halter Ferguson Financial Inc. acquired a new stake in shares of ODDITY Tech during the first quarter valued at about $2,789,000. Finally, Sparta 24 Ltd. acquired a new stake in shares of ODDITY Tech during the first quarter valued at about $1,082,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Stock Performance

NASDAQ:ODD opened at $14.20 on Wednesday. The firm’s fifty day simple moving average is $14.80 and its 200-day simple moving average is $15.46. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The stock has a market cap of $817.64 million, a PE ratio of 17.97 and a beta of 2.38. ODDITY Tech has a fifty-two week low of $9.25 and a fifty-two week high of $64.23.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS 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 quarter last year, the business earned $0.69 EPS. The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. Analysts expect that ODDITY Tech will post -0.55 earnings per share for the current fiscal 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.