ODDITY Tech (NASDAQ:ODD) Shares Gap Up – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD) gapped up before the market opened on Thursday . The stock had previously closed at $12.55, but opened at $13.62. ODDITY Tech shares last traded at $14.1180, with a volume of 1,109,218 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on ODD. Bank of America cut ODDITY Tech from a “buy” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Thursday, February 26th. Morgan Stanley decreased their price target on ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, November 21st. Needham & Company LLC cut ODDITY Tech from a “buy” rating to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings lowered ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $20.00 target price on shares of ODDITY Tech in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $31.73.

ODDITY Tech Trading Up 8.1%

The business’s 50 day simple moving average is $28.81 and its two-hundred day simple moving average is $42.51. The stock has a market cap of $757.25 million, a P/E ratio of 7.54, a PEG ratio of 1.58 and a beta of 3.54. The company has a quick ratio of 4.06, a current ratio of 5.24 and a debt-to-equity ratio of 1.47.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ODDITY Tech had a return on equity of 29.84% and a net margin of 13.68%.During the same period in the previous year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, analysts expect that ODDITY Tech Ltd. will post 1.62 EPS for the current year.

Hedge Funds Weigh In On ODDITY Tech

Several large investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ODDITY Tech by 16.1% during 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 in the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of ODDITY Tech in the second quarter valued at approximately $712,000. Bank of Montreal Can acquired a new position in shares of ODDITY Tech in the second quarter valued at approximately $533,000. Penserra Capital Management LLC bought a new position in ODDITY Tech in the 2nd quarter valued at approximately $857,000. Finally, Geode Capital Management LLC boosted its position in ODDITY Tech by 12.9% during the 2nd quarter. Geode Capital Management LLC now owns 75,063 shares of the company’s stock worth $5,660,000 after buying an additional 8,561 shares during the period. 35.88% of the stock is currently owned by 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.