Oddity Tech (NASDAQ:ODD) Sees Strong Trading Volume on Analyst Upgrade

Oddity Tech Ltd. (NASDAQ:ODD) saw an uptick in trading volume on Thursday after The Goldman Sachs Group raised their price target on the stock from $47.00 to $52.00. The Goldman Sachs Group currently has a neutral rating on the stock. 530,355 shares were traded during trading, a decline of 2% from the previous session’s volume of 538,990 shares.The stock last traded at $62.77 and had previously closed at $61.44.

ODD has been the topic of several other reports. KeyCorp dropped their price objective on shares of Oddity Tech from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of Oddity Tech from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $66.00 price objective on shares of Oddity Tech in a report on Tuesday, April 22nd. Barclays increased their target price on Oddity Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Finally, Bank of America upped their price objective on 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.63.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Oddity Tech in the 4th quarter worth about $42,000. R Squared Ltd purchased a new stake in shares of Oddity Tech in the fourth quarter valued at about $61,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oddity Tech in the third quarter valued at approximately $99,000. Wells Fargo & Company MN grew its position in shares of Oddity Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after purchasing an additional 449 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Oddity Tech during the 4th quarter worth approximately $246,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Oddity Tech Stock Performance

The company has a 50-day moving average of $44.56 and a 200-day moving average of $44.11. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 1.48 and a beta of 3.73.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $268.08 million for the quarter, compared to the consensus estimate of $260.71 million. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 earnings per share. As a group, analysts expect that Oddity Tech Ltd. will post 1.62 earnings per share for the current year.

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.