Oddity Tech (NASDAQ:ODD) Shares Gap Down – What’s Next?

Shares of Oddity Tech Ltd. (NASDAQ:ODD) gapped down before the market opened on Friday . The stock had previously closed at $43.48, but opened at $42.22. Oddity Tech shares last traded at $43.50, with a volume of 40,984 shares.

Wall Street Analysts Forecast Growth

ODD has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Barclays increased their target price on Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group began coverage on shares of Oddity Tech in a research note on Friday, December 13th. They issued a “neutral” rating and a $48.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Oddity Tech Stock Performance

The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.49 and a beta of 4.45. The business has a 50-day simple moving average of $43.86 and a two-hundred day simple moving average of $40.66.

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 business had revenue of $119.00 million during the quarter, compared to analysts’ expectations of $116.47 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. On average, analysts expect that Oddity Tech Ltd. will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in Oddity Tech during the third quarter worth $99,000. Geode Capital Management LLC increased 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 purchasing an additional 750 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Oddity Tech during the 3rd quarter worth about $349,000. Main Management ETF Advisors LLC bought a new stake in shares of Oddity Tech in the 3rd quarter valued at about $846,000. Finally, Wellington Management Group LLP acquired a new stake in Oddity Tech in the 3rd quarter valued at about $12,085,000. 35.88% of the stock is owned by institutional investors and hedge funds.

Oddity Tech Company Profile

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.