Oddity Tech (NASDAQ:ODD) Releases Q2 Earnings Guidance

Oddity Tech (NASDAQ:ODD) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.61-0.64 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $185-189 million, compared to the consensus revenue estimate of $186.43 million. Oddity Tech also updated its FY24 guidance to $1.57-1.62 EPS.

Oddity Tech Stock Up 16.7 %

Shares of ODD traded up $5.23 during mid-day trading on Wednesday, hitting $36.49. 2,560,473 shares of the company’s stock traded hands, compared to its average volume of 873,354. The firm has a market capitalization of $2.08 billion and a P/E ratio of 35.77. The business’s 50-day moving average price is $39.04 and its 200-day moving average price is $38.89. Oddity Tech has a 1 year low of $24.12 and a 1 year high of $56.00.

Oddity Tech (NASDAQ:ODD) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Oddity Tech had a net margin of 11.51% and a return on equity of 26.22%. The company had revenue of $97.25 million for the quarter, compared to analysts’ expectations of $86.38 million. Sell-side analysts anticipate that Oddity Tech will post 1.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on ODD shares. Bank of America boosted their target price on Oddity Tech from $44.00 to $50.00 and gave the stock a buy rating in a report on Thursday, March 7th. Evercore ISI initiated coverage on shares of Oddity Tech in a research note on Thursday, April 4th. They set an outperform rating and a $57.00 price objective for the company. Morgan Stanley upped their target price on shares of Oddity Tech from $35.00 to $47.00 and gave the stock an equal weight rating in a research note on Thursday, March 7th. Barclays reduced their price target on shares of Oddity Tech from $46.00 to $44.00 and set an equal weight rating for the company in a research report on Friday, April 12th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $66.00 price objective on shares of Oddity Tech in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $53.63.

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.