Oddity Tech (NASDAQ:ODD) Shares Gap Down - Should You Sell?

Shares of Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $44.61, but opened at $43.39. Oddity Tech shares last traded at $43.09, with a volume of 123,455 shares trading hands.

Analysts Set New Price Targets

Separately, Barclays boosted their price target on shares of Oddity Tech from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.33.

Oddity Tech Trading Down 5.0 %

The stock has a market capitalization of $2.41 billion, a PE ratio of 25.85, a P/E/G ratio of 1.55 and a beta of 4.40. The stock's fifty day simple moving average is $39.14 and its 200-day simple moving average is $38.92.

Oddity Tech (NASDAQ:ODD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The firm's quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. As a group, analysts anticipate that Oddity Tech Ltd. will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oddity Tech

Several hedge funds and other institutional investors have recently modified their holdings of ODD. nVerses Capital LLC bought a new position in shares of Oddity Tech in the second quarter worth approximately $102,000. Public Employees Retirement Association of Colorado bought a new position in shares of Oddity Tech in the second quarter worth approximately $102,000. Federated Hermes Inc. bought a new position in shares of Oddity Tech in the second quarter worth approximately $113,000. Mendota Financial Group LLC bought a new position in shares of Oddity Tech in the third quarter worth approximately $162,000. Finally, Blue Trust Inc. increased its position in shares of Oddity Tech by 13.3% in the third quarter. Blue Trust Inc. now owns 4,834 shares of the company's stock worth $190,000 after purchasing an additional 566 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors.

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.