ODDITY Tech (NASDAQ:ODD) Rating Lowered to “Strong Sell” at Zacks Research

ODDITY Tech (NASDAQ:ODD) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also commented on ODD. The Goldman Sachs Group lowered ODDITY Tech from a “hold” rating to a “sell” rating and dropped their target price for the stock from $16.00 to $8.00 in a report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $10.25 target price on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 18th. Eight research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Trading Up 5.9%

NASDAQ ODD opened at $15.13 on Monday. The company has a market capitalization of $871.19 million, a PE ratio of 19.15 and a beta of 2.47. The company has a fifty day moving average of $13.02 and a 200 day moving average of $21.85. ODDITY Tech has a 1 year low of $9.25 and a 1 year high of $77.83. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.06 and a quick ratio of 2.86.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. ODDITY Tech’s revenue for the quarter was down 26.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Research analysts forecast that ODDITY Tech will post -0.46 earnings per share for the current year.

Insider Activity at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 9,603 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $13.44, for a total value of $129,064.32. Following the completion of the transaction, the chief financial officer directly owned 77,709 shares in the company, valued at approximately $1,044,408.96. This represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of ODDITY Tech by 115.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock valued at $97,379,000 after acquiring an additional 1,296,551 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of ODDITY Tech by 17.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock valued at $286,188,000 after buying an additional 1,076,921 shares in the last quarter. Morgan Stanley lifted its stake in ODDITY Tech by 13.9% during the 4th quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after acquiring an additional 525,481 shares in the last quarter. Wellington Management Group LLP purchased a new position in ODDITY Tech during the 3rd quarter valued at about $27,838,000. Finally, Altshuler Shaham Ltd grew its position in ODDITY Tech by 364.7% in the 4th quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock valued at $20,119,000 after acquiring an additional 392,967 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.