Oddity Tech (NASDAQ:ODD) Trading Up 3.9% on Analyst Upgrade

Shares of Oddity Tech Ltd. (NASDAQ:ODD) were up 3.9% during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $46.00 to $50.00. Morgan Stanley currently has an equal weight rating on the stock. Oddity Tech traded as high as $49.88 and last traded at $49.38. Approximately 105,909 shares were traded during trading, a decline of 84% from the average daily volume of 650,630 shares. The stock had previously closed at $47.51.

Separately, Barclays increased their price target on Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Oddity Tech in the third quarter valued at approximately $99,000. nVerses Capital LLC acquired a new stake in Oddity Tech during the 2nd quarter valued at approximately $102,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Oddity Tech in the 2nd quarter valued at $102,000. Federated Hermes Inc. acquired a new stake in shares of Oddity Tech in the second quarter worth $113,000. Finally, Quarry LP purchased a new position in shares of Oddity Tech during the third quarter worth $122,000. 35.88% of the stock is owned by institutional investors and hedge funds.

Oddity Tech Stock Down 1.0 %

The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 1.43 and a beta of 4.45. The business’s 50-day moving average is $42.84 and its 200-day moving average is $40.14.

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

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.