Oddity Tech (NASDAQ:ODD) PT Lowered to $39.00

Oddity Tech (NASDAQ:ODD) had its price target dropped by stock analysts at Barclays from $40.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 3.04% from the stock’s current price.

Separately, Truist Financial reiterated a “buy” rating and issued a $58.00 price target on shares of Oddity Tech in a report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.38.

Oddity Tech Stock Performance

ODD traded down $0.75 during trading on Friday, reaching $37.85. The company’s stock had a trading volume of 529,053 shares, compared to its average volume of 803,447. The company’s fifty day moving average price is $40.05 and its 200-day moving average price is $39.84. The company has a market capitalization of $2.15 billion and a price-to-earnings ratio of 31.54. Oddity Tech has a 52-week low of $24.12 and a 52-week high of $55.20.

Oddity Tech (NASDAQ:ODD) last posted its earnings results on Wednesday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.24. Oddity Tech had a return on equity of 26.10% and a net margin of 12.97%. The firm had revenue of $192.77 million for the quarter, compared to analyst estimates of $188.49 million. During the same quarter in the prior year, the company earned $0.52 EPS. Oddity Tech’s revenue was up 27.4% on a year-over-year basis. Equities analysts predict that Oddity Tech will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new position in Oddity Tech in the second quarter valued at about $3,722,000. Massachusetts Financial Services Co. MA grew its stake in shares of Oddity Tech by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company’s stock valued at $49,996,000 after acquiring an additional 5,417 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Oddity Tech during the second quarter valued at about $113,000. Y.D. More Investments Ltd grew its stake in shares of Oddity Tech by 8.6% during the second quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company’s stock valued at $23,436,000 after acquiring an additional 47,390 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Oddity Tech during the second quarter valued at about $451,000. 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.