ODDITY Tech (NASDAQ:ODD) Stock Price Down 10.4% – Time to Sell?

ODDITY Tech Ltd. (NASDAQ:ODD)’s share price dropped 10.4% on Tuesday . The company traded as low as $12.63 and last traded at $12.64. Approximately 1,189,835 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,915,455 shares. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

ODD has been the topic of a number of analyst reports. Weiss Ratings downgraded ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 3rd. Citizens Jmp downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group decreased their price target on ODDITY Tech from $20.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Barclays restated an “underweight” rating and issued a $13.00 price target (down from $40.00) on shares of ODDITY Tech in a research note on Thursday, February 26th. Finally, Zacks Research downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, ODDITY Tech has an average rating of “Reduce” and an average target price of $31.36.

ODDITY Tech Price Performance

The company has a quick ratio of 4.06, a current ratio of 5.24 and a debt-to-equity ratio of 1.47. The company has a market cap of $722.05 million, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.66 and a beta of 2.58. The company has a fifty day simple moving average of $14.20 and a two-hundred day simple moving average of $28.80.

ODDITY Tech (NASDAQ:ODD) last posted its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $152.73 million for the quarter, compared to analyst estimates of $151.11 million. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.ODDITY Tech’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. On average, equities research analysts anticipate that ODDITY Tech Ltd. will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,600 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $15.62, for a total value of $149,952.00. Following the sale, the chief financial officer owned 63,383 shares of the company’s stock, valued at approximately $990,042.46. This represents a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Trading of ODDITY Tech

Several large investors have recently bought and sold shares of ODD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 last quarter. Geode Capital Management LLC grew 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 purchasing an additional 8,561 shares during the last quarter. Legal & General Group Plc acquired a new stake in ODDITY Tech in the second quarter valued at $71,000. American Century Companies Inc. grew 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 purchasing an additional 2,105 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in ODDITY Tech in the second quarter valued at $327,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.