Oddity Tech (NASDAQ:ODD) Shares Gap Up to $31.26

Oddity Tech Ltd. (NASDAQ:ODD)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $31.26, but opened at $35.44. Oddity Tech shares last traded at $36.22, with a volume of 923,281 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Oddity Tech from $35.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Evercore ISI started coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They set an “outperform” rating and a $57.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $66.00 price target on shares of Oddity Tech in a research note on Thursday, March 7th. Bank of America lifted their price objective on Oddity Tech from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Barclays decreased their target price on Oddity Tech from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.63.

Oddity Tech Stock Performance

The stock has a 50-day moving average of $39.04 and a two-hundred day moving average of $38.89. The company has a market cap of $2.05 billion and a P/E ratio of 34.40.

Oddity Tech (NASDAQ:ODD) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $97.25 million during the quarter, compared to analyst estimates of $86.38 million. Oddity Tech had a return on equity of 26.22% and a net margin of 11.51%. Research analysts predict that Oddity Tech Ltd. will post 1.22 EPS for the current year.

Hedge Funds Weigh In On Oddity Tech

Hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. bought a new stake in shares of Oddity Tech in the 3rd quarter worth $157,621,000. MSD Partners L.P. purchased a new position in Oddity Tech in the 3rd quarter worth about $50,510,000. FMR LLC bought a new stake in shares of Oddity Tech in the third quarter worth approximately $47,208,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Oddity Tech during the third quarter valued at approximately $22,503,000. Finally, Clearbridge Investments LLC purchased a new stake in Oddity Tech in the fourth quarter worth approximately $27,056,000. 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.