Oddity Tech (NASDAQ:ODD) Shares Gap Down – Here’s What Happened

Oddity Tech Ltd. (NASDAQ:ODD) shares gapped down before the market opened on Monday . The stock had previously closed at $77.35, but opened at $75.00. Oddity Tech shares last traded at $72.29, with a volume of 268,992 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ODD shares. Truist Financial lifted 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. JPMorgan Chase & Co. boosted their price objective on Oddity Tech from $63.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. The Goldman Sachs Group upped their target price on Oddity Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. KeyCorp decreased their price target on shares of Oddity Tech from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $66.00 price target on shares of Oddity Tech in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Oddity Tech Stock Performance

The company’s 50 day moving average price is $57.88 and its 200 day moving average price is $49.40. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 1.48 and a beta of 3.45.

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

Hedge Funds Weigh In On Oddity Tech

A number of institutional investors and hedge funds have recently bought and sold shares of ODD. Mark Sheptoff Financial Planning LLC bought a new position in shares of Oddity Tech in the fourth quarter valued at about $42,000. Deutsche Bank AG raised its stake in shares of Oddity Tech by 65.0% in the first quarter. Deutsche Bank AG now owns 1,340 shares of the company’s stock worth $58,000 after acquiring an additional 528 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Oddity Tech by 17.6% during the fourth 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. Wilmington Savings Fund Society FSB increased its holdings in shares of Oddity Tech by 49.0% in the fourth 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 in the last quarter. Finally, Federated Hermes Inc. bought a new position in Oddity Tech in the 1st quarter worth approximately $190,000. 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.