Oddity Tech (NASDAQ:ODD) Stock Price Down 2.5% - Time to Sell?

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report) shares fell 2.5% on Friday . The stock traded as low as $43.78 and last traded at $44.46. 127,230 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 648,038 shares. The stock had previously closed at $45.62.

Wall Street Analysts Forecast Growth

ODD has been the topic of a number of recent analyst reports. Barclays upped their price target on Oddity Tech from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. The Goldman Sachs Group initiated coverage on Oddity Tech in a research report on Friday, December 13th. They set a "neutral" rating and a $48.00 target price on the stock. Finally, Morgan Stanley increased their price target on Oddity Tech from $46.00 to $50.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Oddity Tech has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Oddity Tech Stock Performance

The company has a 50 day simple moving average of $43.47 and a two-hundred day simple moving average of $40.46. The firm has a market cap of $2.49 billion, a PE ratio of 26.68, a P/E/G ratio of 1.49 and a beta of 4.45.

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 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 company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. During the same quarter in the prior year, the company earned $0.06 EPS. Oddity Tech's quarterly revenue was up 26.0% on a year-over-year basis. As a group, research analysts predict that Oddity Tech Ltd. will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in Oddity Tech during the third quarter valued at approximately $99,000. Geode Capital Management LLC grew its stake in shares of Oddity Tech by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 63,625 shares of the company's stock worth $2,569,000 after purchasing an additional 750 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Oddity Tech during the 3rd quarter valued at approximately $349,000. Main Management ETF Advisors LLC acquired a new position in shares of Oddity Tech in the 3rd quarter valued at $846,000. Finally, Wellington Management Group LLP purchased a new stake in Oddity Tech during the third quarter worth $12,085,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.