ODDITY Tech (NASDAQ:ODD) Stock Bumped Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of ODDITY Tech (NASDAQ:ODD) from a hold rating to a strong-buy rating in a report issued on Wednesday morning,Zacks reports.

A number of other equities research analysts have also issued reports on ODD. JPMorgan Chase & Co. began coverage on shares of ODDITY Tech in a research note on Monday, September 21st. They issued a “neutral” rating and a $18.00 target price on the stock. Truist Financial increased their price target on shares of ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, September 10th. Morgan Stanley lifted their price target on ODDITY Tech from $16.50 to $18.50 and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup reiterated a “market perform” rating on shares of ODDITY Tech in a research note on Thursday, September 10th. Finally, Wall Street Zen lowered ODDITY Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, ODDITY Tech currently has a consensus rating of “Reduce” and a consensus target price of $22.35.

ODDITY Tech Stock Up 7.1%

Shares of NASDAQ:ODD opened at $23.17 on Wednesday. The firm has a market cap of $1.33 billion, a PE ratio of 96.54 and a beta of 2.24. The company has a fifty day simple moving average of $16.50 and a 200 day simple moving average of $14.99. The company has a current ratio of 3.45, a quick ratio of 2.11 and a debt-to-equity ratio of 2.21. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $52.00.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $180.52 million for the quarter, compared to the consensus estimate of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. The firm’s revenue was down 24.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. On average, equities research analysts anticipate that ODDITY Tech will post -0.25 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total transaction of $116,449.53. Following the transaction, the chief financial officer directly owned 116,135 shares in the company, valued at $1,752,477.15. This trade represents a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 62,852 shares of company stock worth $938,716.

Institutional Trading of ODDITY Tech

Several institutional investors have recently added to or reduced their stakes in the business. Juncture Wealth Strategies LLC raised its holdings in shares of ODDITY Tech by 17.8% during the third quarter. Juncture Wealth Strategies LLC now owns 27,119 shares of the company’s stock worth $506,000 after purchasing an additional 4,097 shares during the period. State Street Corp lifted its position in shares of ODDITY Tech by 123.5% in the 2nd quarter. State Street Corp now owns 836,446 shares of the company’s stock worth $12,655,000 after buying an additional 462,137 shares during the last quarter. K5 Global Advisor LLC acquired a new position in shares of ODDITY Tech in the 2nd quarter valued at about $375,000. Sigma Planning Corp boosted its holdings in shares of ODDITY Tech by 37.7% in the 2nd quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock valued at $220,000 after buying an additional 3,975 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of ODDITY Tech in the 2nd quarter valued at about $300,000. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology-driven beauty and wellness company that develops and markets consumer brands through digital, direct-to-consumer channels. The company uses data science, artificial intelligence and technology-enabled personalization to help consumers discover products and make purchasing decisions online.

ODDITY’s portfolio includes IL MAKIAGE, a digitally native makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand focused on personalized routines and treatments.