Truist Financial Forecasts Strong Price Appreciation for ODDITY Tech (NASDAQ:ODD) Stock

ODDITY Tech (NASDAQ:ODD) had its price objective raised by investment analysts at Truist Financial from $12.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 10.33% from the stock’s current price.

Several other research firms also recently commented on ODD. Zacks Research raised shares of ODDITY Tech from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Barclays cut their price target on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, June 3rd. Morgan Stanley decreased their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Needham & Company LLC reissued a “hold” rating on shares of ODDITY Tech in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $10.25 price target on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Nine analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $25.75.

ODDITY Tech Price Performance

Shares of NASDAQ ODD traded up $0.10 during midday trading on Tuesday, reaching $14.50. The stock had a trading volume of 277,732 shares, compared to its average volume of 1,640,937. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.86 and a current ratio of 4.06. ODDITY Tech has a 12-month low of $9.25 and a 12-month high of $64.23. The stock has a 50-day moving average of $14.98 and a 200-day moving average of $15.03. The company has a market capitalization of $835.03 million, a price-to-earnings ratio of 18.40 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). ODDITY Tech had a net margin of 6.97% and a return on equity of 15.38%. The business had revenue of $197.94 million for the quarter, compared to the consensus estimate of $187.87 million. During the same period last year, the business posted $0.69 EPS. The firm’s revenue for the quarter was down 26.2% compared to the same quarter last year. As a group, research analysts anticipate that ODDITY Tech will post -0.55 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mann Lindsay Drucker sold 12,286 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $14.27, for a total transaction of $175,321.22. Following the completion of the transaction, the chief financial officer owned 116,135 shares in the company, valued at $1,657,246.45. The trade was a 9.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Over the last three months, insiders sold 163,928 shares of company stock worth $2,464,018.

Institutional Trading of ODDITY Tech

Several institutional investors and hedge funds have recently made changes to their positions in ODD. Wexford Capital LP bought a new position in shares of ODDITY Tech in the third quarter worth about $40,000. Legal & General Group Plc bought a new stake in shares of ODDITY Tech during the second quarter valued at approximately $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 valued at $69,000 after purchasing an additional 651 shares during the period. Headlands Technologies LLC bought a new position in ODDITY Tech in the second quarter worth approximately $108,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of ODDITY Tech in the second quarter valued at about $225,000. 35.88% of the stock is currently owned by institutional investors.

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.