JPMorgan Chase & Co. Begins Coverage on ODDITY Tech (NASDAQ:ODD)

Research analysts at JPMorgan Chase & Co. started coverage on shares of ODDITY Tech (NASDAQ:ODD) in a research report issued on Monday, MarketBeat reports. The brokerage set a “neutral” rating and a $18.00 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 4.15% from the company’s current price.

Several other brokerages have also weighed in on ODD. Citigroup reissued a “market perform” rating on shares of ODDITY Tech in a research report on Thursday, September 10th. Zacks Research raised ODDITY Tech from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Truist Financial upped their target price on ODDITY Tech from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, September 10th. Bank of America reissued an “underperform” rating on shares of ODDITY Tech in a report on Thursday, September 10th. Finally, Jefferies Financial Group raised their price target on ODDITY Tech from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, September 9th. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $22.15.

ODDITY Tech Stock Performance

Shares of ODD opened at $18.78 on Monday. The company has a market cap of $1.08 billion, a PE ratio of 78.25 and a beta of 2.38. The firm has a 50-day moving average of $15.15 and a 200-day moving average of $14.28. ODDITY Tech has a one year low of $9.25 and a one year high of $63.56. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.45 and a quick ratio of 2.11.

ODDITY Tech (NASDAQ:ODD) last issued its earnings results on Wednesday, September 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The business had revenue of $180.52 million during the quarter, compared to the consensus estimate of $178.23 million. ODDITY Tech had a net margin of 2.23% and a return on equity of 2.58%. ODDITY Tech’s revenue was down 24.9% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. As a group, equities analysts forecast that ODDITY Tech will post -0.15 earnings per share for the current year.

Insider Buying and Selling at ODDITY Tech

In related news, CFO Mann Drucker sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $15.09, for a total value of $116,449.53. Following the sale, the chief financial officer directly owned 116,135 shares of the company’s stock, valued at $1,752,477.15. This trade represents a 6.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 172,454 shares of company stock worth $2,592,610.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in ODDITY Tech by 123.5% in the second quarter. State Street Corp now owns 836,446 shares of the company’s stock valued at $12,655,000 after purchasing an additional 462,137 shares during the last quarter. K5 Global Advisor LLC acquired a new stake in ODDITY Tech during the 2nd quarter worth approximately $375,000. Sigma Planning Corp boosted its position in ODDITY Tech by 37.7% during the 2nd quarter. Sigma Planning Corp now owns 14,510 shares of the company’s stock worth $220,000 after buying an additional 3,975 shares during the period. Public Employees Retirement System of Ohio bought a new stake in ODDITY Tech during the 2nd quarter worth approximately $300,000. Finally, Avidity Partners Management LP bought a new stake in ODDITY Tech during the 1st quarter worth approximately $937,000. Institutional investors own 35.88% of the company’s stock.

About ODDITY Tech

ODDITY Tech Ltd. is a technology and consumer products company focused on beauty and wellness. The company combines data science, artificial intelligence and digital commerce to develop, market and sell products directly to consumers, with an emphasis on personalized shopping experiences and digitally native brands.

ODDITY’s portfolio includes IL MAKIAGE, a digitally focused makeup brand known for personalized product recommendations, and SpoiledChild, a beauty and hair-care brand. Its offerings include cosmetics, skin-care, hair-care and related beauty products sold primarily through online channels.

Founded in 2018 by Oran Holtzman and Lihi Pinto Fryman, ODDITY is headquartered in New York and operates technology and research capabilities in Tel Aviv.