ODDITY Tech (NASDAQ:ODD) Trading Up 5.4% Following Analyst Upgrade

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) shot up 5.4% during mid-day trading on Friday after Bank of America raised their price target on the stock from $68.00 to $80.00. Bank of America currently has a buy rating on the stock. ODDITY Tech traded as high as $75.35 and last traded at $75.53. 139,545 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 591,799 shares. The stock had previously closed at $71.69.

Other analysts have also recently issued research reports about the stock. JMP Securities restated a “market outperform” rating and issued a $66.00 price objective on shares of ODDITY Tech in a research report on Tuesday, April 22nd. Truist Financial increased their target price on ODDITY Tech from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. KeyCorp lowered their target price on ODDITY Tech from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group increased their target price on ODDITY Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Barclays increased their target price on ODDITY Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Sheets Smith Wealth Management increased its stake in ODDITY Tech by 1.5% in the first quarter. Sheets Smith Wealth Management now owns 20,792 shares of the company’s stock valued at $899,000 after acquiring an additional 315 shares during the last quarter. Wells Fargo & Company MN increased its stake in 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 acquiring an additional 449 shares during the last quarter. California State Teachers Retirement System increased its stake in ODDITY Tech by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 31,401 shares of the company’s stock valued at $1,319,000 after acquiring an additional 511 shares during the last quarter. Deutsche Bank AG grew its stake in shares of ODDITY Tech by 65.0% during the first quarter. Deutsche Bank AG now owns 1,340 shares of the company’s stock worth $58,000 after buying an additional 528 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of ODDITY Tech by 5.1% during the fourth quarter. American Century Companies Inc. now owns 12,334 shares of the company’s stock worth $518,000 after buying an additional 593 shares during the last quarter. 35.88% of the stock is owned by institutional investors.

ODDITY Tech Stock Up 4.6%

The business’s 50 day simple moving average is $66.05 and its two-hundred day simple moving average is $51.67. The stock has a market cap of $4.19 billion, a P/E ratio of 43.09, a PEG ratio of 3.34 and a beta of 3.45.

ODDITY Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The company had revenue of $268.08 million for the quarter, compared to analyst estimates of $260.71 million. ODDITY Tech had a net margin of 15.12% and a return on equity of 30.67%. ODDITY Tech’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, research analysts forecast that ODDITY Tech Ltd. will post 1.62 earnings per share for the current fiscal 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.