Barclays Cuts Oddity Tech (NASDAQ:ODD) Price Target to $40.00

Oddity Tech (NASDAQ:ODD) had its target price trimmed by Barclays from $42.00 to $40.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts also recently weighed in on the stock. Evercore ISI assumed coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They set an outperform rating and a $57.00 price target for the company. Truist Financial reissued a buy rating and issued a $58.00 target price on shares of Oddity Tech in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $53.50.

Oddity Tech Stock Up 0.2 %

Shares of NASDAQ ODD opened at $40.12 on Friday. The firm has a fifty day moving average of $39.80 and a 200-day moving average of $40.22. The stock has a market capitalization of $2.28 billion and a PE ratio of 33.43. Oddity Tech has a 52-week low of $24.12 and a 52-week high of $56.00.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Tuesday, May 7th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.12. Oddity Tech had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $211.63 million during the quarter, compared to the consensus estimate of $205.55 million. Equities research analysts expect that Oddity Tech will post 1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Legato Capital Management LLC acquired a new stake in Oddity Tech during the fourth quarter worth about $336,000. Y.D. More Investments Ltd raised its position in shares of Oddity Tech by 10.8% during the 4th quarter. Y.D. More Investments Ltd now owns 399,550 shares of the company’s stock worth $18,591,000 after purchasing an additional 39,000 shares during the period. Swiss National Bank bought a new stake in shares of Oddity Tech in the 4th quarter worth approximately $1,456,000. M&T Bank Corp bought a new stake in shares of Oddity Tech in the 4th quarter worth approximately $203,000. Finally, Sheets Smith Wealth Management acquired a new position in Oddity Tech during the 4th quarter valued at approximately $1,035,000. 35.88% of the stock is owned by institutional investors and hedge funds.

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.