Oddity Tech (NASDAQ:ODD) Sets New 52-Week High – Here’s Why

Oddity Tech Ltd. (NASDAQ:ODD) shares hit a new 52-week high during trading on Monday . The company traded as high as $73.00 and last traded at $71.41, with a volume of 306543 shares changing hands. The stock had previously closed at $71.00.

Analyst Ratings Changes

ODD has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on Oddity Tech from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. KeyCorp lowered their target price on Oddity Tech from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and set a $66.00 target price on shares of Oddity Tech in a research report on Tuesday, April 22nd. Truist Financial raised their target price on Oddity Tech from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Barclays raised their target price on Oddity Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Oddity Tech presently has an average rating of “Moderate Buy” and an average price target of $54.63.

Oddity Tech Stock Performance

The stock has a fifty day simple moving average of $46.70 and a two-hundred day simple moving average of $45.12. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 42.73, a P/E/G ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The firm had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.71 million. During the same period last year, the business posted $0.61 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Research analysts forecast that Oddity Tech Ltd. will post 1.62 earnings per share for the current year.

Institutional Trading of Oddity Tech

Large investors have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Oddity Tech in the 4th quarter valued at about $42,000. Deutsche Bank AG boosted its stake in Oddity Tech by 65.0% during the 1st quarter. Deutsche Bank AG now owns 1,340 shares of the company’s stock valued at $58,000 after purchasing an additional 528 shares during the last quarter. R Squared Ltd acquired a new position in Oddity Tech during the 4th quarter valued at about $61,000. Wells Fargo & Company MN boosted its stake in Oddity Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after purchasing an additional 449 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Oddity Tech by 49.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,650 shares of the company’s stock valued at $153,000 after purchasing an additional 1,200 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.