Oddity Tech (NASDAQ:ODD) Shares Gap Down - Time to Sell?

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $43.48, but opened at $42.22. Oddity Tech shares last traded at $43.50, with a volume of 40,984 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on ODD shares. The Goldman Sachs Group assumed coverage on Oddity Tech in a research report on Friday, December 13th. They issued a "neutral" rating and a $48.00 target price for the company. Barclays lifted their price objective on shares of Oddity Tech from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of Oddity Tech from $46.00 to $50.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Oddity Tech currently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Oddity Tech Stock Up 0.2 %

The company has a market capitalization of $2.48 billion, a P/E ratio of 26.56, a PEG ratio of 1.49 and a beta of 4.46. The business has a 50 day simple moving average of $43.86 and a 200-day simple moving average of $40.68.

Oddity Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $116.47 million. During the same period last year, the firm posted $0.06 EPS. Oddity Tech's quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts forecast that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

Institutional Trading of Oddity Tech

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position 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 buying an additional 134,853 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Oddity Tech by 340.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,003 shares of the company's stock worth $353,000 after purchasing an additional 6,958 shares during the period. Peregrine Capital Management LLC boosted its stake in Oddity Tech by 1.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 143,384 shares of the company's stock valued at $5,629,000 after purchasing an additional 1,784 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Oddity Tech during the 2nd quarter valued at $102,000. Finally, Knuff & Co LLC raised its stake in shares of Oddity Tech by 43.1% in the 2nd quarter. Knuff & Co LLC now owns 5,013 shares of the company's stock worth $197,000 after buying an additional 1,510 shares in the last quarter. 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.