ODDITY Tech (NASDAQ:ODD) Price Target Raised to $16.50

ODDITY Tech (NASDAQ:ODD) had its price target raised by Morgan Stanley from $10.00 to $16.50 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

ODD has been the subject of several other research reports. Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Bank of America reaffirmed an “underperform” rating on shares of ODDITY Tech in a report on Thursday. The Goldman Sachs Group downgraded ODDITY Tech from a “hold” rating to a “sell” rating and lowered their target price for the company from $16.00 to $8.00 in a research report on Wednesday, June 3rd. Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a report on Tuesday, September 8th. Finally, Jefferies Financial Group upped their price target on shares of ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, ODDITY Tech has an average rating of “Reduce” and an average price target of $27.23.

ODDITY Tech Stock Up 14.2%

Shares of ODD stock opened at $18.28 on Thursday. The stock has a market cap of $1.05 billion, a P/E ratio of 76.17 and a beta of 2.38. ODDITY Tech has a 52 week low of $9.25 and a 52 week high of $64.23. The company has a quick ratio of 2.86, a current ratio of 3.45 and a debt-to-equity ratio of 2.21. The company’s fifty day simple moving average is $14.94 and its two-hundred day simple moving average is $14.23.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%.The firm had revenue of $180.52 million during the quarter, compared to analyst estimates of $178.23 million. During the same quarter last year, the business posted $0.92 earnings per share. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. Analysts predict that ODDITY Tech will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In other news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $15.09, for a total value of $116,449.53. Following the completion of the sale, the chief financial officer owned 116,135 shares in the company, valued at approximately $1,752,477.15. This trade represents a 6.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 172,454 shares of company stock valued at $2,592,610 over the last quarter.

Institutional Trading of ODDITY Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in ODDITY Tech by 115.0% during the 4th 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 period. California State Teachers Retirement System grew its position in ODDITY Tech by 1,432.4% in the 2nd quarter. California State Teachers Retirement System now owns 664,752 shares of the company’s stock valued at $10,058,000 after acquiring an additional 621,371 shares during the last quarter. Morgan Stanley increased its stake in ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock worth $172,998,000 after purchasing an additional 525,481 shares during the period. Wellington Management Group LLP purchased a new stake in ODDITY Tech in the third quarter worth $27,838,000. Finally, Altshuler Shaham Ltd lifted its position in shares of ODDITY Tech by 364.7% during the fourth quarter. Altshuler Shaham Ltd now owns 500,714 shares of the company’s stock worth $20,119,000 after purchasing an additional 392,967 shares during the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ODDITY Tech

Here are the key news stories impacting ODDITY Tech this week:

• Positive Sentiment: ODDITY Tech reported quarterly earnings of $0.20 per share, exceeding the $0.12 consensus estimate, while revenue of $180.52 million also came in ahead of expectations. The earnings surprise appears to be the primary catalyst behind the stock’s upward move. ODDITY Tech Shares Gap Up Following Earnings Beat
• Positive Sentiment: Jefferies Financial Group indicated that ODDITY Tech’s stock is expected to rise, adding to the bullish interpretation of the earnings results. ODDITY Tech Stock Price Expected to Rise
• Positive Sentiment: An investment analysis highlighted turnaround potential from improving customer-acquisition costs, growth at SpoiledChild, and longer-term opportunities from METHODIQ and Labs. ODDITY’s discounted, zero-coupon convertible debt may also provide financial flexibility. Oddity Tech Turnaround Potential and Discounted Debt Value Lever
• Neutral Sentiment: Morgan Stanley raised its price target from $10.00 to $16.50 but retained an Equal Weight rating, while Truist lifted its target from $16.00 to $18.00 and maintained a Hold rating. The increases suggest improved expectations, but both targets remain at or below the recent trading level.
• Neutral Sentiment: Needham reaffirmed its Hold rating, indicating that the earnings beat has not yet changed its broader view of the company.
• Negative Sentiment: Despite the earnings beat, revenue declined 24.9% year over year and quarterly earnings fell sharply from $0.92 per share in the prior-year period. The company’s net margin was only 2.23%, underscoring ongoing profitability concerns. Oddity Tech Reveals Drop in Q2 Bottom Line
• Negative Sentiment: Barclays issued a Sell rating, adding a significant bearish voice as investors assess whether the reported improvement represents a durable recovery. ODDITY Tech Receives a Sell from Barclays

ODDITY Tech Company Profile

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.