ODDITY Tech (NASDAQ:ODD) Shares Down 9.5% – What’s Next?

Shares of ODDITY Tech Ltd. (NASDAQ:ODD) were down 9.5% on Wednesday . The company traded as low as $15.48 and last traded at $15.3810. Approximately 463,031 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,781,543 shares. The stock had previously closed at $16.99.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ODD shares. Morgan Stanley decreased their price objective on ODDITY Tech from $16.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. The Goldman Sachs Group lowered ODDITY Tech from a “hold” rating to a “sell” rating and cut their target price for the company from $16.00 to $8.00 in a research note on Wednesday, June 3rd. KeyCorp restated a “sector weight” rating on shares of ODDITY Tech in a report on Wednesday, June 3rd. Jefferies Financial Group restated a “hold” rating and set a $10.25 target price on shares of ODDITY Tech in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Eight analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, ODDITY Tech currently has an average rating of “Reduce” and a consensus price target of $25.39.

ODDITY Tech Price Performance

The company has a 50 day moving average of $14.08 and a 200 day moving average of $18.08. The company has a current ratio of 4.06, a quick ratio of 2.86 and a debt-to-equity ratio of 1.96. The firm has a market cap of $843.47 million, a price-to-earnings ratio of 18.54 and a beta of 2.37.

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

Insider Activity

In related news, CFO Mann Lindsay Drucker sold 109,602 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $15.09, for a total transaction of $1,653,894.18. Following the completion of the sale, the chief financial officer directly owned 77,709 shares of the company’s stock, valued at approximately $1,172,628.81. This represents a 58.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ODD. Baillie Gifford & Co. increased its position in shares of ODDITY Tech by 17.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,122,641 shares of the company’s stock worth $286,188,000 after acquiring an additional 1,076,921 shares in the last quarter. Morgan Stanley lifted its holdings in shares of ODDITY Tech by 13.9% in the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after purchasing an additional 525,481 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of ODDITY Tech by 115.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after buying an additional 1,296,551 shares during the period. Granahan Investment Management LLC grew its holdings in shares of ODDITY Tech by 1.1% during the fourth quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after buying an additional 16,747 shares in the last quarter. Finally, Ashford Capital Management Inc. raised its position in ODDITY Tech by 25.0% in the 4th quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company’s stock valued at $27,562,000 after buying an additional 137,380 shares during the last quarter. Institutional investors own 35.88% of the company’s stock.

ODDITY Tech Company 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. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.