ODDITY Tech’s (ODD) Hold Rating Reiterated at Needham & Company LLC

ODDITY Tech (NASDAQ:ODD)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research report issued on Thursday, Benzinga reports.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. started coverage on shares of ODDITY Tech in a report on Monday, September 21st. They set a “neutral” rating and a $18.00 price target for the company. Zacks Research upgraded shares of ODDITY Tech from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. Truist Financial upped their price objective on shares of ODDITY Tech from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday. Weiss Ratings upgraded ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Finally, Morgan Stanley lifted their target price on ODDITY Tech from $16.50 to $18.50 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $22.55.

ODDITY Tech Trading Up 2.1%

Shares of ODD opened at $19.90 on Thursday. The stock’s 50-day moving average is $19.59 and its two-hundred day moving average is $17.14. The stock has a market cap of $1.15 billion, a PE ratio of 82.92 and a beta of 2.14. ODDITY Tech has a 12 month low of $9.25 and a 12 month high of $46.45. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The company had revenue of $144.98 million for the quarter, compared to analyst estimates of $140.53 million. During the same quarter last year, the firm posted $0.28 earnings per share. Equities analysts forecast that ODDITY Tech will post -0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mann Drucker sold 21,571 shares of ODDITY Tech stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $15.14, for a total value of $326,584.94. Following the completion of the transaction, the chief financial officer directly owned 104,492 shares of the company’s stock, valued at approximately $1,582,008.88. The trade was a 17.11% decrease in their position. The transaction was disclosed in a filing with the SEC, 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. In the last 90 days, insiders have sold 51,379 shares of company stock valued at $765,474.

Institutional Investors Weigh In On ODDITY Tech

A number of institutional investors have recently modified their holdings of ODD. State Street Corp increased its holdings in shares of ODDITY Tech by 123.5% in the 2nd quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after acquiring an additional 462,137 shares during the period. Amundi increased its holdings in shares of ODDITY Tech by 17.8% during the first quarter. Amundi now owns 434,945 shares of the company’s stock valued at $5,820,000 after purchasing an additional 65,647 shares during the period. Landscape Capital Management L.L.C. increased its holdings in shares of ODDITY Tech by 65.7% during the third quarter. Landscape Capital Management L.L.C. now owns 347,941 shares of the company’s stock valued at $6,493,000 after purchasing an additional 138,014 shares during the period. Rice Hall James & Associates LLC acquired a new position in shares of ODDITY Tech during the first quarter valued at $3,533,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of ODDITY Tech by 32.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 121,185 shares of the company’s stock valued at $1,621,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors own 35.88% of the company’s stock.

Key ODDITY Tech News

Investors following ODD have been watching these news items:

• Positive Sentiment: Q3 adjusted earnings were $0.37 per share, ahead of analysts’ $0.30 estimate, while revenue of about $145 million topped the $140.5 million consensus. ODDITY also raised its full-year revenue and adjusted EBITDA outlook; its $660 million revenue forecast is above the roughly $656.6 million consensus. Earnings release
• Neutral Sentiment: The beat came despite Q3 revenue falling about 2% year over year, suggesting the recovery remains uneven. Fourth-quarter revenue guidance of $135.9 million to $137.5 million is broadly in line with the $136.8 million consensus. Earnings call highlights
• Negative Sentiment: Jefferies lowered its price target to $20, signaling limited perceived upside near the stock’s recent trading level and adding a cautious note alongside the results. Jefferies price-target update

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven consumer company that develops and operates digital-first beauty and wellness brands. Its portfolio includes IL MAKIAGE, which offers makeup and skincare products, and SpoiledChild, which focuses on beauty and wellness products. The company uses data analytics, artificial intelligence and other technology to support product development, personalized recommendations and online shopping. Its brands primarily sell directly to consumers through e-commerce platforms.