Oddity Tech (NASDAQ:ODD) Stock Price Down 5% – What’s Next?

Oddity Tech Ltd. (NASDAQ:ODD) traded down 5% during trading on Friday . The company traded as low as $46.32 and last traded at $47.45. 94,870 shares were traded during mid-day trading, a decline of 85% from the average session volume of 651,162 shares. The stock had previously closed at $49.95.

Analyst Ratings Changes

A number of equities analysts have issued reports on ODD shares. Barclays raised their target price on Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Oddity Tech from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, The Goldman Sachs Group assumed coverage on shares of Oddity Tech in a report on Friday. They set a “neutral” rating and a $48.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Oddity Tech Price Performance

The company has a market cap of $2.81 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.43 and a beta of 4.45. The stock has a 50-day moving average price of $42.84 and a 200 day moving average price of $40.17.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.22 by $0.10. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. Sell-side analysts expect that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

Institutional Trading of Oddity Tech

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Oddity Tech by 13.3% during the third quarter. Blue Trust Inc. now owns 4,834 shares of the company’s stock worth $190,000 after buying an additional 566 shares during the period. Geode Capital Management LLC grew its stake in shares of Oddity Tech by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 63,625 shares of the company’s stock worth $2,569,000 after acquiring an additional 750 shares in the last quarter. Knuff & Co LLC raised its holdings in shares of Oddity Tech by 43.1% in the second quarter. Knuff & Co LLC now owns 5,013 shares of the company’s stock valued at $197,000 after purchasing an additional 1,510 shares during the last quarter. Peregrine Capital Management LLC lifted its position in shares of Oddity Tech by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 143,384 shares of the company’s stock worth $5,629,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Centiva Capital LP grew its position in Oddity Tech by 23.1% in the third quarter. Centiva Capital LP now owns 9,624 shares of the company’s stock valued at $389,000 after purchasing an additional 1,804 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.