ODDITY Tech (NASDAQ:ODD) Shares Up 9% – Should You Buy?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) shot up 9% during mid-day trading on Tuesday . The stock traded as high as $10.71 and last traded at $10.8240. 151,085 shares changed hands during trading, a decline of 92% from the average session volume of 1,930,464 shares. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ODD. Evercore lowered shares of ODDITY Tech from an “outperform” rating to an “in-line” rating and set a $23.00 target price on the stock. in a research note on Thursday, February 26th. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and decreased their price target for the company from $16.00 to $8.00 in a research note on Wednesday, June 3rd. Citizens Jmp lowered shares of ODDITY Tech from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $16.00 price target (down from $59.00) on shares of ODDITY Tech in a research note on Thursday, February 26th. Finally, Truist Financial decreased 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Price Performance

The stock has a market capitalization of $631.60 million, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.43 and a beta of 2.47. The stock’s 50 day moving average is $13.50 and its two-hundred day moving average is $24.84. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share 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 company had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. During the same period in the prior year, the business posted $0.69 earnings per share. The company’s quarterly revenue was down 26.2% compared to the same quarter last year. On average, equities analysts anticipate that ODDITY Tech Ltd. will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 9,604 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $12.85, for a total value of $123,411.40. Following the transaction, the chief financial officer directly owned 49,054 shares of the company’s stock, valued at $630,343.90. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 28,807 shares of company stock valued at $402,428.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ODD. Wexford Capital LP purchased a new position in ODDITY Tech in the 3rd quarter worth approximately $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ODDITY Tech by 134.8% in the 3rd 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 in the last quarter. Legal & General Group Plc purchased a new position in ODDITY Tech in the 2nd quarter worth approximately $71,000. SG Americas Securities LLC purchased a new position in ODDITY Tech in the 1st quarter worth approximately $104,000. Finally, Headlands Technologies LLC purchased a new position in ODDITY Tech in the 2nd quarter worth approximately $108,000. 35.88% of the stock is owned by hedge funds and other 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.