Oddity Tech Ltd. (NASDAQ:ODD) Receives $53.00 Average Target Price from Brokerages

Shares of Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $53.00.

Several research firms have recently commented on ODD. The Goldman Sachs Group started coverage on Oddity Tech in a research report on Friday, December 13th. They issued a "neutral" rating and a $48.00 price target for the company. Barclays boosted their price objective on shares of Oddity Tech from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price objective on Oddity Tech from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th.

Oddity Tech Trading Up 0.2 %

Shares of NASDAQ:ODD traded up $0.07 during mid-day trading on Friday, reaching $43.55. The stock had a trading volume of 259,154 shares, compared to its average volume of 643,918. Oddity Tech has a 1 year low of $30.34 and a 1 year high of $51.00. The business's 50 day moving average price is $43.86 and its 200 day moving average price is $40.68. The company has a market cap of $2.48 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 1.49 and a beta of 4.46.

Oddity Tech (NASDAQ:ODD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The firm had revenue of $119.00 million during the quarter, compared to analysts' expectations of $116.47 million. During the same period in the previous year, the company earned $0.06 EPS. The firm's revenue for the quarter was up 26.0% compared to the same quarter last year. Analysts predict that Oddity Tech will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in shares of Oddity Tech in the 2nd quarter worth $3,722,000. Bank of New York Mellon Corp grew its holdings in shares of Oddity Tech by 1,303.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 145,196 shares of the company's stock worth $5,700,000 after purchasing an additional 134,853 shares during the period. Seven Eight Capital LP purchased a new position in Oddity Tech in the second quarter valued at about $1,060,000. Aurora Investment Counsel purchased a new position in Oddity Tech in the 3rd quarter worth approximately $2,056,000. Finally, Y.D. More Investments Ltd lifted its holdings in Oddity Tech by 8.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company's stock worth $23,436,000 after buying an additional 47,390 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company's stock.

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.