ODDITY Tech’s (ODD) Hold Rating Reiterated at Needham & Company LLC

ODDITY Tech (NASDAQ:ODD)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports.

Other analysts have also recently issued reports about the company. Zacks Research raised ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Morgan Stanley reduced their price objective on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Truist Financial upped their target price on shares of ODDITY Tech from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, September 1st. KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Finally, Barclays reduced their price target on shares of ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 3rd. Nine analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, ODDITY Tech currently has a consensus rating of “Reduce” and an average price target of $25.75.

ODDITY Tech Stock Performance

NASDAQ ODD opened at $13.75 on Tuesday. ODDITY Tech has a 12 month low of $9.25 and a 12 month high of $64.23. The stock has a 50-day simple moving average of $15.02 and a 200 day simple moving average of $14.53. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $791.73 million, a PE ratio of 17.41 and a beta of 2.38.

Insider Activity

In other news, CFO Mann Drucker sold 7,717 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total transaction of $116,449.53. Following the completion of the sale, the chief financial officer owned 116,135 shares of the company’s stock, valued at $1,752,477.15. This represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 172,454 shares of company stock worth $2,592,610 over the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODD. Wexford Capital LP bought a new position in ODDITY Tech during the 3rd quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ODDITY Tech by 134.8% in the third 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. USS Investment Management Ltd lifted its holdings in shares of ODDITY Tech by 5.3% in the fourth 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. California State Teachers Retirement System lifted its holdings in shares of ODDITY Tech by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock valued at $1,749,000 after purchasing an additional 870 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in shares of ODDITY Tech by 10.0% during the third quarter. Entropy Technologies LP now owns 9,900 shares of the company’s stock worth $617,000 after buying an additional 900 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.