Oddity Tech (NASDAQ:ODD) Stock Price Down 2.5% – What’s Next?

Oddity Tech Ltd. (NASDAQ:ODD)’s stock price fell 2.5% during mid-day trading on Friday . The company traded as low as $43.78 and last traded at $44.46. 127,230 shares traded hands during trading, a decline of 80% from the average session volume of 648,038 shares. The stock had previously closed at $45.62.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODD. The Goldman Sachs Group began coverage on Oddity Tech in a research report on Friday, December 13th. They set a “neutral” rating and a $48.00 price target for the company. Morgan Stanley boosted their price objective on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, Barclays raised their target price on Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Oddity Tech Price Performance

The stock has a market cap of $2.49 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.49 and a beta of 4.45. The stock has a 50-day moving average price of $43.53 and a two-hundred day moving average price of $40.51.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business had revenue of $119.00 million during the quarter, compared to analyst estimates of $116.47 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities research analysts expect that Oddity Tech Ltd. will post 1.64 earnings per share for the current year.

Hedge Funds Weigh In On Oddity Tech

Several institutional investors have recently made changes to their positions in ODD. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oddity Tech in the third quarter worth approximately $99,000. nVerses Capital LLC purchased a new stake in shares of Oddity Tech in the 2nd quarter valued at approximately $102,000. Public Employees Retirement Association of Colorado acquired a new position in Oddity Tech during the second quarter worth $102,000. Federated Hermes Inc. purchased a new position in Oddity Tech during the 2nd quarter valued at about $113,000. Finally, Quarry LP purchased a new stake in Oddity Tech during the 3rd quarter worth approximately $122,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Oddity Tech Company Profile

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.