ODDITY Tech (NASDAQ:ODD) Rating Lowered to “Strong Sell” at Wall Street Zen

ODDITY Tech (NASDAQ:ODD) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on ODD. Jefferies Financial Group boosted their price objective on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. began coverage on ODDITY Tech in a research report on Monday, September 21st. They set a “neutral” rating and a $18.00 target price on the stock. Zacks Research raised ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, September 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of ODDITY Tech in a report on Friday, September 25th. Eleven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $22.15.

ODDITY Tech Price Performance

Shares of NASDAQ ODD opened at $21.11 on Friday. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $52.24. The firm has a fifty day simple moving average of $15.92 and a 200 day simple moving average of $14.75. The company has a market capitalization of $1.22 billion, a PE ratio of 87.96 and a beta of 2.24. The company has a quick ratio of 2.11, a current ratio of 3.45 and a debt-to-equity ratio of 2.21.

ODDITY Tech (NASDAQ:ODD) last released its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The business had revenue of $180.52 million for the quarter, compared to analyst estimates of $178.23 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. ODDITY Tech’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, sell-side analysts forecast that ODDITY Tech will post -0.25 EPS for the current year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of the sale, the chief financial officer directly owned 116,135 shares in the company, valued at approximately $1,752,477.15. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 62,852 shares of company stock valued at $938,716 in the last ninety days.

Hedge Funds Weigh In On ODDITY Tech

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in ODDITY Tech in the first quarter worth approximately $104,000. Sigma Planning Corp grew its stake in ODDITY Tech by 52.0% in the first quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock valued at $141,000 after acquiring an additional 3,605 shares during the period. Blue Trust Inc. increased its holdings in shares of ODDITY Tech by 14.9% during the first quarter. Blue Trust Inc. now owns 11,359 shares of the company’s stock valued at $152,000 after acquiring an additional 1,470 shares in the last quarter. USS Investment Management Ltd increased its holdings in shares of 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 acquiring an additional 880 shares in the last quarter. Finally, J. Safra Sarasin Holding AG raised its position in shares of ODDITY Tech by 132.6% during the first quarter. J. Safra Sarasin Holding AG now owns 20,000 shares of the company’s stock worth $268,000 after purchasing an additional 11,400 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.