Sphera Management Technology Funds Ltd Invests $1.89 Million in Oddity Tech Ltd. (NASDAQ:ODD)

Sphera Management Technology Funds Ltd bought a new stake in shares of Oddity Tech Ltd. (NASDAQ:ODD) during the fourth quarter, Holdings Channel reports. The fund bought 45,000 shares of the company’s stock, valued at approximately $1,891,000. Oddity Tech makes up approximately 1.1% of Sphera Management Technology Funds Ltd’s portfolio, making the stock its 21st largest position.

A number of other institutional investors have also recently added to or reduced their stakes in ODD. Mark Sheptoff Financial Planning LLC acquired a new stake in Oddity Tech during the 4th quarter worth $42,000. R Squared Ltd purchased a new position in shares of Oddity Tech in the fourth quarter worth about $61,000. Wells Fargo & Company MN boosted its position in Oddity Tech by 17.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock worth $126,000 after acquiring an additional 449 shares during the last quarter. Wilmington Savings Fund Society FSB grew 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 acquiring an additional 1,200 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Oddity Tech during the 4th quarter valued at about $246,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ODD shares. JMP Securities reissued a “market outperform” rating and issued a $66.00 target price on shares of Oddity Tech in a research note on Tuesday, April 22nd. The Goldman Sachs Group lifted their price objective on Oddity Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on Oddity Tech from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Barclays lifted their price target on Oddity Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, Truist Financial upped their price objective on shares of Oddity Tech from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.63.

Oddity Tech Stock Performance

Shares of ODD stock opened at $63.00 on Monday. The firm has a market cap of $3.52 billion, a P/E ratio of 38.41, a P/E/G ratio of 1.48 and a beta of 3.44. The firm’s 50 day moving average price is $48.64 and its 200-day moving average price is $45.99. Oddity Tech Ltd. has a one year low of $32.71 and a one year high of $73.00.

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

Oddity Tech Profile

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.