Oddity Tech (NASDAQ:ODD) Trading 3.9% Higher on Analyst Upgrade

Oddity Tech Ltd. (NASDAQ:ODD) shares shot up 3.9% during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $46.00 to $50.00. Morgan Stanley currently has an equal weight rating on the stock. Oddity Tech traded as high as $49.88 and last traded at $49.38. 105,909 shares traded hands during trading, a decline of 84% from the average session volume of 650,630 shares. The stock had previously closed at $47.51.

Separately, Barclays raised their price target on shares of Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Institutional Trading of Oddity Tech

Large investors have recently bought and sold shares of the business. Catalyst Capital Advisors LLC acquired a new position in Oddity Tech during the second quarter worth $550,000. Bank of New York Mellon Corp boosted its position in shares of Oddity Tech by 1,303.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 145,196 shares of the company’s stock valued at $5,700,000 after acquiring an additional 134,853 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Oddity Tech by 30.5% in the second quarter. ARK Investment Management LLC now owns 64,468 shares of the company’s stock valued at $2,531,000 after purchasing an additional 15,062 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Oddity Tech by 491.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock worth $11,612,000 after purchasing an additional 245,764 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Oddity Tech by 340.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,003 shares of the company’s stock worth $353,000 after purchasing an additional 6,958 shares during the period. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Oddity Tech Trading Down 1.0 %

The firm’s fifty day simple moving average is $42.84 and its two-hundred day simple moving average is $40.14. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.43 and a beta of 4.45.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. The firm had revenue of $119.00 million for the quarter, compared to analyst estimates of $116.47 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. As a group, analysts forecast that Oddity Tech Ltd. will post 1.64 EPS for the current fiscal year.

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.