ODDITY Tech (NASDAQ:ODD) Shares Down 6.5% – What’s Next?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) traded down 6.5% during trading on Monday . The stock traded as low as $13.59 and last traded at $13.8960. Approximately 338,081 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,932,436 shares. The stock had previously closed at $14.86.

Analyst Ratings Changes

Several brokerages have weighed in on ODD. Truist Financial reduced their price objective on ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, June 3rd. Weiss Ratings downgraded shares of ODDITY Tech from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group lowered shares of ODDITY Tech from a “hold” rating to a “sell” rating and lowered their price target for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Morgan Stanley reduced their price objective on shares of ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a report on Tuesday, June 2nd. Nine equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $25.39.

ODDITY Tech Stock Down 5.5%

The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The firm has a market cap of $808.48 million, a PE ratio of 17.79 and a beta of 2.48. The stock has a 50-day simple moving average of $13.04 and a two-hundred day simple moving average of $22.27.

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

Insider Activity

In other news, CFO Mann Lindsay Drucker sold 9,603 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $13.44, for a total value of $129,064.32. Following the completion of the sale, the chief financial officer owned 77,709 shares of the company’s stock, valued at approximately $1,044,408.96. This represents a 11.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 28,807 shares of company stock valued at $402,428.

Hedge Funds Weigh In On ODDITY Tech

A number of large investors have recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its position in ODDITY Tech by 7.7% during the third quarter. TD Asset Management Inc now owns 6,629 shares of the company’s stock valued at $413,000 after buying an additional 476 shares during the period. Wexford Capital LP purchased a new position in shares of ODDITY Tech in the third quarter worth about $40,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ODDITY Tech by 134.8% in 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 period. USS Investment Management Ltd lifted its stake in shares of ODDITY Tech by 5.3% in the 4th quarter. USS Investment Management Ltd now owns 13,753 shares of the company’s stock valued at $552,000 after acquiring an additional 695 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in ODDITY Tech by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 43,532 shares of the company’s stock valued at $1,749,000 after purchasing an additional 870 shares during the period. Hedge funds and other institutional investors 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.