Needham & Company LLC Reaffirms “Hold” Rating for ODDITY Tech (NASDAQ:ODD)

ODDITY Tech (NASDAQ:ODD)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

ODD has been the topic of several other research reports. Jefferies Financial Group upped their price target on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, September 9th. Wall Street Zen raised ODDITY Tech from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 18th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of ODDITY Tech in a report on Wednesday. JPMorgan Chase & Co. began coverage on ODDITY Tech in a report on Monday, September 21st. They set a “neutral” rating and a $18.00 target price for the company. Finally, Weiss Ratings upgraded ODDITY Tech from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, ODDITY Tech presently has a consensus rating of “Reduce” and a consensus price target of $22.55.

ODDITY Tech Stock Performance

Shares of NASDAQ ODD opened at $19.90 on Thursday. The stock has a fifty day moving average price of $19.59 and a two-hundred day moving average price of $17.14. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.11 and a current ratio of 3.45. The firm has a market cap of $1.15 billion, a P/E ratio of 82.92 and a beta of 2.14. ODDITY Tech has a 1 year low of $9.25 and a 1 year high of $46.45.

ODDITY Tech (NASDAQ:ODD) last announced its quarterly earnings data on Wednesday, November 11th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $144.98 million during the quarter, compared to analyst estimates of $140.53 million. ODDITY Tech had a return on equity of 2.58% and a net margin of 2.23%. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Research analysts forecast that ODDITY Tech will post -0.25 EPS for the current fiscal year.

Insider Transactions at ODDITY Tech

In other ODDITY Tech news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total transaction of $116,449.53. Following the completion of the sale, the chief financial officer directly 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 sale was disclosed in a legal filing 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 three months, insiders sold 51,379 shares of company stock valued at $765,474.

Institutional Trading of ODDITY Tech

A number of hedge funds have recently made changes to their positions in ODD. Pinnacle Wealth Planning Services Inc. lifted its position in ODDITY Tech by 38.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,125 shares of the company’s stock worth $77,000 after buying an additional 1,142 shares in the last quarter. Signaturefd LLC raised its stake in shares of ODDITY Tech by 72.0% during the 3rd quarter. Signaturefd LLC now owns 9,814 shares of the company’s stock worth $183,000 after purchasing an additional 4,109 shares in the last quarter. Sigma Planning Corp raised its stake in shares of ODDITY Tech by 52.0% during the 1st quarter. Sigma Planning Corp now owns 10,535 shares of the company’s stock worth $141,000 after purchasing an additional 3,605 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of ODDITY Tech during the 3rd quarter valued at about $325,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of ODDITY Tech during the 2nd quarter valued at about $300,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ODDITY Tech

Here are a few of the latest stories about ODD:

• Positive Sentiment: Q3 adjusted earnings were $0.37 per share, ahead of analysts’ $0.30 estimate, while revenue of about $145 million topped the $140.5 million consensus. ODDITY also raised its full-year revenue and adjusted EBITDA outlook; its $660 million revenue forecast is above the roughly $656.6 million consensus. Earnings release
• Neutral Sentiment: The beat came despite Q3 revenue falling about 2% year over year, suggesting the recovery remains uneven. Fourth-quarter revenue guidance of $135.9 million to $137.5 million is broadly in line with the $136.8 million consensus. Earnings call highlights
• Negative Sentiment: Jefferies lowered its price target to $20, signaling limited perceived upside near the stock’s recent trading level and adding a cautious note alongside the results. Jefferies price-target update

About ODDITY Tech

ODDITY Tech Ltd. is a technology-driven consumer company that develops and operates digital-first beauty and wellness brands. Its portfolio includes IL MAKIAGE, which offers makeup and skincare products, and SpoiledChild, which focuses on beauty and wellness products. The company uses data analytics, artificial intelligence and other technology to support product development, personalized recommendations and online shopping. Its brands primarily sell directly to consumers through e-commerce platforms.