ODDITY Tech (NASDAQ:ODD) Shares Down 6.5% – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD) fell 6.5% during trading on Monday . The stock traded as low as $13.59 and last traded at $13.8960. 338,081 shares changed hands during trading, a decline of 83% from the average daily volume of 1,932,436 shares. The stock had previously closed at $14.86.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Morgan Stanley dropped their price target on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Weiss Ratings downgraded shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 3rd. KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $10.25 price objective on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Barclays lowered their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Nine analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $25.39.

ODDITY Tech Stock Performance

The firm’s 50 day moving average is $13.04 and its 200-day moving average is $22.27. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The firm has a market cap of $808.48 million, a price-to-earnings ratio of 17.79 and a beta of 2.48.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The firm had revenue of $197.94 million during the quarter, compared to analyst estimates of $187.87 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was down 26.2% compared to the same quarter last year. Sell-side analysts anticipate that ODDITY Tech Ltd. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mann Lindsay Drucker sold 9,603 shares of ODDITY Tech stock in a transaction on Monday, June 1st. The shares were sold at an average price of $13.44, for a total transaction of $129,064.32. Following the transaction, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,044,408.96. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,807 shares of company stock valued at $402,428 over the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. increased its holdings in ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after purchasing an additional 1,076,921 shares in the last quarter. Morgan Stanley lifted its position in shares of ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after buying an additional 525,481 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of ODDITY Tech by 115.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after acquiring an additional 1,296,551 shares in the last quarter. Granahan Investment Management LLC increased its position in shares of ODDITY Tech by 1.1% during the fourth quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock valued at $61,202,000 after acquiring an additional 16,747 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in ODDITY Tech by 11.3% in the 3rd quarter. Bamco Inc. NY now owns 1,376,781 shares of the company’s stock valued at $85,773,000 after purchasing an additional 139,348 shares during the period. 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.