Oddity Tech (NASDAQ:ODD) Shares Gap Up - Here's Why

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $40.46, but opened at $41.62. Oddity Tech shares last traded at $40.89, with a volume of 9,857 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Oddity Tech from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their price objective on Oddity Tech from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday. KeyCorp cut their target price on shares of Oddity Tech from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JMP Securities reiterated a "market outperform" rating and set a $66.00 price target on shares of Oddity Tech in a research report on Tuesday. Finally, Bank of America increased their price objective on shares of Oddity Tech from $50.00 to $58.00 and gave the company 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 data from MarketBeat.com, Oddity Tech has an average rating of "Moderate Buy" and an average price target of $53.25.

Oddity Tech Stock Up 1.8 %

The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.48 and a beta of 3.73. The company's fifty day moving average is $43.42 and its 200 day moving average is $43.53.

Hedge Funds Weigh In On Oddity Tech

Several hedge funds have recently modified their holdings of ODD. Mark Sheptoff Financial Planning LLC acquired a new position in Oddity Tech during the fourth quarter valued at approximately $42,000. R Squared Ltd acquired a new stake in shares of Oddity Tech in the 4th quarter valued at approximately $61,000. Wilmington Savings Fund Society FSB bought a new position in shares of Oddity Tech in the third quarter valued at $99,000. Wells Fargo & Company MN increased its holdings in Oddity Tech by 17.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $126,000 after buying an additional 449 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Oddity Tech during the fourth quarter worth $246,000. Institutional investors own 35.88% of the company's stock.

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.