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

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $43.26, but opened at $44.33. Oddity Tech shares last traded at $42.70, with a volume of 21,636 shares traded.

Analysts Set New Price Targets

ODD has been the subject of several research analyst reports. Morgan Stanley lifted 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. The Goldman Sachs Group began coverage on shares of Oddity Tech in a research note on Friday, December 13th. They set a "neutral" rating and a $48.00 target price on the stock. Barclays boosted their target price on Oddity Tech from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. KeyCorp increased their price target on Oddity Tech from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Finally, Bank of America boosted their target price on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Oddity Tech has a consensus rating of "Moderate Buy" and a consensus price target of $52.43.

Oddity Tech Price Performance

The firm has a market capitalization of $2.12 billion, a PE ratio of 23.15, a PEG ratio of 1.48 and a beta of 3.73. The firm's fifty day moving average is $44.52 and its two-hundred day moving average is $43.23.

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Institutional Trading of Oddity Tech

Several hedge funds have recently made changes to their positions in ODD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Oddity Tech by 4.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,104 shares of the company's stock worth $2,387,000 after purchasing an additional 2,665 shares in the last quarter. Verition Fund Management LLC raised its holdings in Oddity Tech by 7.2% during the 3rd quarter. Verition Fund Management LLC now owns 35,248 shares of the company's stock valued at $1,423,000 after acquiring an additional 2,368 shares during the period. Centiva Capital LP raised its holdings in Oddity Tech by 23.1% during the 3rd quarter. Centiva Capital LP now owns 9,624 shares of the company's stock valued at $389,000 after acquiring an additional 1,804 shares during the period. Janus Henderson Group PLC lifted its position in shares of Oddity Tech by 11.1% during the third quarter. Janus Henderson Group PLC now owns 492,198 shares of the company's stock worth $19,877,000 after acquiring an additional 49,101 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Oddity Tech by 88.6% in the third quarter. Point72 Asset Management L.P. now owns 16,600 shares of the company's stock worth $670,000 after acquiring an additional 7,800 shares during the period. 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.