Oddity Tech (NASDAQ:ODD) Trading Down 5% - Time to Sell?

Oddity Tech Ltd. (NASDAQ:ODD - Get Free Report)'s stock price was down 5% during mid-day trading on Friday . The stock traded as low as $46.32 and last traded at $47.45. Approximately 94,870 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 651,162 shares. The stock had previously closed at $49.95.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ODD shares. Morgan Stanley upped their price objective on Oddity Tech from $46.00 to $50.00 and gave the company an "equal weight" rating in a report on Thursday. Barclays upped their price target on Oddity Tech from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group assumed coverage on shares of Oddity Tech in a research note on Friday. They set a "neutral" rating and a $48.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Oddity Tech Price Performance

The company has a market cap of $2.81 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.43 and a beta of 4.45. The stock has a 50-day moving average price of $42.84 and a 200 day moving average price of $40.17.

Oddity Tech (NASDAQ:ODD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.32 EPS 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 firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. The business's quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. Sell-side analysts expect that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Oddity Tech

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Oddity Tech in the 3rd quarter valued at about $99,000. nVerses Capital LLC acquired a new position in Oddity Tech during the second quarter valued at approximately $102,000. Public Employees Retirement Association of Colorado bought a new position in Oddity Tech in the second quarter valued at approximately $102,000. Federated Hermes Inc. acquired a new position in shares of Oddity Tech during the 2nd quarter worth approximately $113,000. Finally, Quarry LP bought a new stake in shares of Oddity Tech during the 3rd quarter worth approximately $122,000. Institutional investors and hedge funds 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.