ODDITY Tech (NASDAQ:ODD) Raised to “Hold” at Zacks Research

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

Several other brokerages have also recently issued reports on ODD. Wall Street Zen cut shares of ODDITY Tech from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 18th. Truist Financial reduced their target price on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, June 3rd. Needham & Company LLC restated a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.25 target price on shares of ODDITY Tech in a report on Tuesday, June 2nd. Finally, KeyCorp reiterated a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, ODDITY Tech currently has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Trading Down 0.6%

Shares of ODD stock opened at $15.22 on Tuesday. The company has a market capitalization of $876.29 million, a P/E ratio of 19.27 and a beta of 2.38. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The business’s 50 day moving average is $14.30 and its two-hundred day moving average is $17.53. ODDITY Tech has a twelve month low of $9.25 and a twelve month high of $64.23.

ODDITY Tech (NASDAQ:ODD) last released 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). ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The company had revenue of $197.94 million for the quarter, compared to analysts’ expectations of $187.87 million. During the same quarter last year, the company earned $0.69 EPS. ODDITY Tech’s revenue for the quarter was down 26.2% compared to the same quarter last year. Equities analysts forecast that ODDITY Tech will post -0.55 EPS for the current year.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 11,473 shares of ODDITY Tech stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $15.10, for a total value of $173,242.30. Following the sale, the chief financial officer directly owned 104,492 shares in the company, valued at $1,577,829.20. The trade was a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 130,678 shares of company stock valued at $1,956,201 in the last quarter.

Institutional Investors Weigh In On ODDITY Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wexford Capital LP acquired a new stake in ODDITY Tech in the third quarter valued at $40,000. Legal & General Group Plc acquired a new position in shares of ODDITY Tech during the 2nd quarter worth $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ODDITY Tech by 134.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after purchasing an additional 651 shares during the period. Headlands Technologies LLC purchased a new position in shares of ODDITY Tech in the 2nd quarter valued at about $108,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of ODDITY Tech in the 2nd quarter valued at about $225,000. 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.