ODDITY Tech (NASDAQ:ODD) Stock Price Up 7.6% – Still a Buy?

ODDITY Tech Ltd. (NASDAQ:ODD) shares were up 7.6% during mid-day trading on Monday . The stock traded as high as $19.31 and last traded at $19.4950. 106,351 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,697,241 shares. The stock had previously closed at $18.11.

Analysts Set New Price Targets

ODD has been the subject of several recent analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research report on Wednesday, June 3rd. Truist Financial raised their price target on shares of ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, September 10th. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and dropped their price objective for the company from $16.00 to $8.00 in a report on Wednesday, June 3rd. Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group boosted their target price on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, September 9th. Ten equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $27.41.

ODDITY Tech Trading Up 2.3%

The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11. The firm has a fifty day simple moving average of $15.07 and a two-hundred day simple moving average of $14.20. The firm has a market capitalization of $1.07 billion, a P/E ratio of 77.35 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $180.52 million during the quarter, compared to the consensus estimate of $178.23 million. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%.The firm’s quarterly revenue was down 24.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. On average, equities research analysts anticipate that ODDITY Tech Ltd. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mann Drucker sold 109,602 shares of ODDITY Tech stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the completion of the transaction, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,172,628.81. The trade was a 58.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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. Over the last ninety days, insiders have sold 172,454 shares of company stock valued at $2,592,610.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. USS Investment Management Ltd lifted its position in ODDITY Tech by 6.4% during the first quarter. USS Investment Management Ltd now owns 14,633 shares of the company’s stock valued at $196,000 after purchasing an additional 880 shares during the last quarter. Blue Trust Inc. raised its position in shares of ODDITY Tech by 14.9% during the 1st quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after buying an additional 1,470 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of ODDITY Tech during the 4th quarter valued at $130,000. Sigma Planning Corp lifted its holdings in shares of ODDITY Tech by 52.0% during the 1st quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock worth $141,000 after acquiring an additional 3,605 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in ODDITY Tech in the first quarter worth $104,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.