Oddity Tech (NASDAQ:ODD) Shares Gap Up – Here’s Why

Oddity Tech Ltd. (NASDAQ:ODD) shares gapped up prior to trading on Tuesday . The stock had previously closed at $43.26, but opened at $44.33. Oddity Tech shares last traded at $42.70, with a volume of 21,636 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ODD. KeyCorp upped their price objective on Oddity Tech from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Bank of America upped their price target on Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Morgan Stanley raised their price target on shares of Oddity Tech from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. assumed coverage on shares of Oddity Tech in a research report on Friday, January 31st. They issued an “overweight” rating and a $55.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Oddity Tech in a research report on Friday, December 13th. They issued a “neutral” rating and a $48.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Oddity Tech Trading Up 5.8 %

The firm’s 50 day moving average price is $44.70 and its two-hundred day moving average price is $43.22. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 1.48 and a beta of 4.20.

Institutional Trading of Oddity Tech

Several institutional investors and hedge funds have recently bought and sold shares of ODD. California State Teachers Retirement System increased its holdings in shares of Oddity Tech by 1.7% during the 4th quarter. California State Teachers Retirement System now owns 31,401 shares of the company’s stock worth $1,319,000 after acquiring an additional 511 shares during the last quarter. PharVision Advisers LLC bought a new position in Oddity Tech during the fourth quarter worth $299,000. Ashford Capital Management Inc. increased its holdings in shares of Oddity Tech by 3.2% in the fourth quarter. Ashford Capital Management Inc. now owns 719,758 shares of the company’s stock valued at $30,244,000 after purchasing an additional 22,098 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Oddity Tech by 10.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,535 shares of the company’s stock valued at $2,754,000 after purchasing an additional 6,431 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of Oddity Tech during the 4th quarter worth about $5,460,000. Institutional investors 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.