ODDITY Tech (NASDAQ:ODD) Upgraded to Hold at Zacks Research

ODDITY Tech (NASDAQ:ODD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages have also commented on ODD. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a research note on Tuesday, June 2nd. The Goldman Sachs Group downgraded shares of ODDITY Tech from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Wall Street Zen cut shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, April 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Truist Financial cut their price target on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, ODDITY Tech has a consensus rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Stock Down 0.6%

Shares of NASDAQ ODD opened at $15.22 on Tuesday. The business has a 50-day moving average of $14.30 and a two-hundred day moving average of $17.53. The company has a market capitalization of $876.29 million, a price-to-earnings ratio of 19.27 and a beta of 2.38. ODDITY Tech has a 1 year low of $9.25 and a 1 year high of $64.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The company’s revenue was down 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, analysts forecast that ODDITY Tech will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 109,602 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the transaction, the chief financial officer owned 77,709 shares of the company’s stock, valued at $1,172,628.81. The trade was a 58.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 130,678 shares of company stock worth $1,956,201.

Institutional Investors Weigh In On ODDITY Tech

Large investors have recently modified their holdings of the company. Baillie Gifford & Co. increased its holdings in shares of ODDITY Tech by 17.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after acquiring an additional 1,076,921 shares during the period. Morgan Stanley boosted its stake in 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 purchasing an additional 525,481 shares during the period. Janus Henderson Group PLC boosted its stake in ODDITY Tech by 115.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares during the period. Granahan Investment Management LLC grew its position in ODDITY Tech by 1.1% during the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after purchasing an additional 16,747 shares during the last quarter. Finally, Ashford Capital Management Inc. grew its position in ODDITY Tech by 25.0% during the 4th quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company’s stock worth $27,562,000 after purchasing an additional 137,380 shares during the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

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.