ODDITY Tech (NASDAQ:ODD) Shares Down 7.5% – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD) fell 7.5% on Monday . The stock traded as low as $15.99 and last traded at $16.5580. Approximately 175,453 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,918,535 shares. The stock had previously closed at $17.90.

Analysts Set New Price Targets

ODD has been the topic of a number of recent research reports. KeyCorp reissued a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Zacks Research lowered ODDITY Tech from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Barclays decreased their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 3rd. Jefferies Financial Group reissued a “hold” rating and issued a $10.25 price target on shares of ODDITY Tech in a report on Tuesday, June 2nd. Finally, Truist Financial cut their price objective on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Price Performance

The firm has a market capitalization of $991.56 million, a P/E ratio of 21.63 and a beta of 2.37. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. The business has a 50 day simple moving average of $13.16 and a two-hundred day simple moving average of $21.30.

ODDITY Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $197.94 million during the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The business’s revenue was down 26.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. On average, sell-side analysts expect that ODDITY Tech Ltd. will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $15.09, for a total value of $1,653,894.18. Following the sale, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at $1,172,628.81. This trade represents a 58.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 128,805 shares of company stock valued at $1,932,910 in the last quarter.

Hedge Funds Weigh In On ODDITY Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of ODD. Wexford Capital LP bought a new position in shares of ODDITY Tech in the 3rd quarter worth $40,000. Legal & General Group Plc bought a new stake in shares of ODDITY Tech during the 2nd quarter worth $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ODDITY Tech by 134.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,134 shares of the company’s stock worth $69,000 after acquiring an additional 651 shares in the last quarter. Headlands Technologies LLC purchased a new position in ODDITY Tech in the second quarter worth $108,000. Finally, Wolff Wiese Magana LLC increased its stake in ODDITY Tech by 2,435.3% in the fourth quarter. Wolff Wiese Magana LLC now owns 2,941 shares of the company’s stock valued at $118,000 after acquiring an additional 2,825 shares during the last quarter. Hedge funds and other institutional investors 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.