ODDITY Tech (NASDAQ:ODD) Stock Rating Lowered by Needham & Company LLC

ODDITY Tech (NASDAQ:ODDGet Free Report) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other analysts have also weighed in on ODD. Morgan Stanley cut their price objective on ODDITY Tech from $61.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, November 21st. Zacks Research downgraded ODDITY Tech from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Barclays reduced their price target on ODDITY Tech from $64.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, November 21st. Jefferies Financial Group lowered shares of ODDITY Tech from a “buy” rating to a “hold” rating and cut their target price for the stock from $64.00 to $18.00 in a research note on Wednesday. Finally, Truist Financial reaffirmed a “hold” rating and issued a $18.00 target price (down from $80.00) on shares of ODDITY Tech in a report on Wednesday. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ODDITY Tech presently has an average rating of “Hold” and an average price target of $52.40.

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ODDITY Tech Stock Down 49.2%

Shares of ODD traded down $14.28 during mid-day trading on Wednesday, hitting $14.74. 23,858,121 shares of the company’s stock were exchanged, compared to its average volume of 1,698,371. The stock’s 50-day moving average is $35.08 and its 200-day moving average is $46.02. The company has a debt-to-equity ratio of 1.53, a quick ratio of 6.42 and a current ratio of 7.54. ODDITY Tech has a fifty-two week low of $13.09 and a fifty-two week high of $79.18. The company has a market cap of $822.93 million, a price-to-earnings ratio of 8.23, a P/E/G ratio of 1.19 and a beta of 3.18.

ODDITY Tech (NASDAQ:ODDGet Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $152.73 million for the quarter, compared to the consensus estimate of $151.11 million. ODDITY Tech had a net margin of 14.11% and a return on equity of 31.68%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. On average, sell-side analysts anticipate that ODDITY Tech will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ODDITY Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODD. Wexford Capital LP acquired a new stake in ODDITY Tech during the 3rd quarter worth $40,000. Assetmark Inc. purchased a new stake in shares of ODDITY Tech in the second quarter valued at about $54,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ODDITY Tech by 134.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after buying an additional 651 shares during the last quarter. Legal & General Group Plc acquired a new position in ODDITY Tech in the 2nd quarter valued at about $71,000. Finally, Quaker Wealth Management LLC raised its stake in ODDITY Tech by 530.3% during the 3rd quarter. Quaker Wealth Management LLC now owns 1,664 shares of the company’s stock valued at $104,000 after acquiring an additional 1,400 shares during the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

ODDITY Tech News Roundup

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ODDITY Tech Company Profile

(Get Free Report)

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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.

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