ODDITY Tech (NASDAQ:ODD) Trading Down 6.2% – Here’s What Happened

ODDITY Tech Ltd. (NASDAQ:ODD) was down 6.2% during trading on Tuesday . The stock traded as low as $12.92 and last traded at $13.1210. Approximately 567,740 shares traded hands during trading, a decline of 76% from the average daily volume of 2,364,410 shares. The stock had previously closed at $13.99.

Analysts Set New Price Targets

ODD has been the topic of several recent analyst reports. Evercore lowered ODDITY Tech from an “outperform” rating to an “in-line” rating and set a $23.00 price target on the stock. in a research note on Thursday, February 26th. Wall Street Zen downgraded ODDITY Tech from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. KeyCorp dropped their price target on ODDITY Tech from $50.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Bank of America cut ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Thursday, February 26th. Finally, Truist Financial restated a “hold” rating and set a $18.00 price target (down from $80.00) on shares of ODDITY Tech in a research note on Wednesday, February 25th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, ODDITY Tech presently has a consensus rating of “Reduce” and an average target price of $31.73.

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 business’s 50-day moving average is $29.93 and its two-hundred day moving average is $43.06. The company has a market capitalization of $703.46 million, a P/E ratio of 7.01, a price-to-earnings-growth ratio of 1.86 and a beta of 3.55.

ODDITY Tech (NASDAQ:ODD) last announced its earnings results on Wednesday, February 25th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $152.73 million during 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%.The business’s revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS. As a group, analysts predict that ODDITY Tech Ltd. will post 1.62 earnings per share for the current year.

Institutional Trading of ODDITY Tech

Several hedge funds have recently made changes to their positions in the company. Wexford Capital LP bought a new stake in ODDITY Tech during the 3rd quarter valued at $40,000. Assetmark Inc. bought a new position in ODDITY Tech during the 2nd quarter worth approximately $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $69,000 after purchasing an additional 651 shares during the last quarter. Legal & General Group Plc bought a new position in ODDITY Tech in the 2nd quarter worth $71,000. Finally, Quaker Wealth Management LLC grew its stake in ODDITY Tech by 530.3% in the third quarter. Quaker Wealth Management LLC now owns 1,664 shares of the company’s stock worth $104,000 after purchasing an additional 1,400 shares during the period. 35.88% of the stock is currently owned by institutional investors.

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.