Oddity Tech (NASDAQ:ODD) Issues Q2 2024 Earnings Guidance

Oddity Tech (NASDAQ:ODD) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.610-0.640 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of $185.0 million-$189.0 million, compared to the consensus revenue estimate of $186.5 million. Oddity Tech also updated its FY 2024 guidance to 1.570-1.620 EPS.

Oddity Tech Stock Performance

Shares of ODD traded down $1.48 on Friday, reaching $36.53. The stock had a trading volume of 476,850 shares, compared to its average volume of 870,689. The company has a 50-day simple moving average of $38.87 and a 200-day simple moving average of $38.87. The firm has a market capitalization of $2.08 billion and a price-to-earnings ratio of 31.68. Oddity Tech has a 12-month low of $24.12 and a 12-month high of $56.00.

Oddity Tech (NASDAQ:ODD) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $97.25 million during the quarter, compared to analysts’ expectations of $86.38 million. Oddity Tech had a return on equity of 26.22% and a net margin of 11.51%. On average, analysts expect that Oddity Tech will post 1.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ODD. Barclays cut their price objective on Oddity Tech from $46.00 to $44.00 and set an equal weight rating for the company in a report on Friday, April 12th. Bank of America boosted their price target on Oddity Tech from $44.00 to $50.00 and gave the company a buy rating in a report on Thursday, March 7th. Evercore ISI assumed coverage on Oddity Tech in a report on Thursday, April 4th. They set an outperform rating and a $57.00 price target for the company. Morgan Stanley boosted their price target on Oddity Tech from $35.00 to $47.00 and gave the company an equal weight rating in a report on Thursday, March 7th. Finally, JMP Securities restated a market outperform rating and issued a $66.00 price objective on shares of Oddity Tech in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Oddity Tech has a consensus rating of Moderate Buy and a consensus target price of $53.63.

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.