Oddity Tech Ltd. (NASDAQ:ODD) Receives Average Rating of “Moderate Buy” from Analysts

Oddity Tech Ltd. (NASDAQ:ODD) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $52.83.

Separately, Barclays reduced their price target on shares of Oddity Tech from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th.

Oddity Tech Stock Performance

Oddity Tech stock opened at $40.92 on Friday. The company has a market capitalization of $2.33 billion, a P/E ratio of 29.02, a PEG ratio of 1.38 and a beta of 4.49. Oddity Tech has a fifty-two week low of $24.12 and a fifty-two week high of $50.36. The stock has a 50-day simple moving average of $37.91 and a 200-day simple moving average of $38.10.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.24. The company had revenue of $192.77 million during the quarter, compared to analysts’ expectations of $188.49 million. Oddity Tech had a return on equity of 26.66% and a net margin of 14.66%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. As a group, analysts forecast that Oddity Tech will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Oddity Tech

Hedge funds have recently modified their holdings of the stock. Capital International Investors purchased a new position in Oddity Tech during the 1st quarter worth $45,811,000. Baillie Gifford & Co. raised its holdings in Oddity Tech by 15.2% during the first quarter. Baillie Gifford & Co. now owns 6,312,730 shares of the company’s stock worth $274,288,000 after purchasing an additional 833,643 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in Oddity Tech in the second quarter valued at about $23,397,000. Bamco Inc. NY boosted its holdings in Oddity Tech by 40.4% in the 1st quarter. Bamco Inc. NY now owns 1,063,183 shares of the company’s stock valued at $46,195,000 after purchasing an additional 305,767 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Oddity Tech by 491.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock valued at $11,612,000 after buying an additional 245,764 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.