Oddity Tech (NASDAQ:ODD) Shares Gap Down on Analyst Downgrade

Oddity Tech Ltd. (NASDAQ:ODD)’s stock price gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $56.00 to $50.00. The stock had previously closed at $40.80, but opened at $39.66. JPMorgan Chase & Co. currently has an overweight rating on the stock. Oddity Tech shares last traded at $41.04, with a volume of 11,844 shares changing hands.

Other research analysts also recently issued research reports about the company. KeyCorp reduced their price target on Oddity Tech from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. JMP Securities reissued a “market outperform” rating and set a $66.00 price target on shares of Oddity Tech in a research report on Tuesday. Barclays upped their price target on shares of Oddity Tech from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Bank of America raised their price objective on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Oddity Tech presently has an average rating of “Moderate Buy” and an average price target of $53.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. State Street Corp raised its stake in Oddity Tech by 5.7% during the third quarter. State Street Corp now owns 236,199 shares of the company’s stock worth $9,538,000 after acquiring an additional 12,700 shares during the period. Geode Capital Management LLC grew its holdings in shares of Oddity Tech by 1.2% during the third quarter. Geode Capital Management LLC now owns 63,625 shares of the company’s stock valued at $2,569,000 after purchasing an additional 750 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oddity Tech during the 3rd quarter worth approximately $99,000. Nordea Investment Management AB bought a new stake in shares of Oddity Tech in the 4th quarter worth approximately $797,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Oddity Tech during the 4th quarter valued at approximately $1,767,000. 35.88% of the stock is currently owned by institutional investors.

Oddity Tech Trading Up 1.8 %

The stock has a 50-day moving average of $43.38 and a 200-day moving average of $43.52. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.48 and a beta of 3.73.

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.