Oddity Tech (NASDAQ:ODD) Shares Gap Down – Here’s What Happened

Oddity Tech Ltd. (NASDAQ:ODD)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $44.61, but opened at $43.39. Oddity Tech shares last traded at $43.09, with a volume of 123,455 shares traded.

Wall Street Analyst Weigh In

Separately, Barclays raised their price target on Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.33.

Oddity Tech Stock Down 6.2 %

The firm has a market capitalization of $2.26 billion, a P/E ratio of 24.24, a PEG ratio of 1.52 and a beta of 4.40. The business’s 50-day simple moving average is $39.26 and its 200 day simple moving average is $38.97.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.22 by $0.10. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Sell-side analysts predict that Oddity Tech Ltd. will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Oddity Tech

A number of large investors have recently added to or reduced their stakes in ODD. Harbor Capital Advisors Inc. purchased a new position in Oddity Tech during the 2nd quarter valued at about $1,021,000. Renaissance Technologies LLC bought a new stake in Oddity Tech in the second quarter valued at $3,722,000. Teachers Retirement System of The State of Kentucky increased its position in Oddity Tech by 49.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 67,669 shares of the company’s stock valued at $2,941,000 after purchasing an additional 22,500 shares during the period. Swiss National Bank lifted its position in shares of Oddity Tech by 100.0% in the 1st quarter. Swiss National Bank now owns 62,600 shares of the company’s stock worth $2,720,000 after purchasing an additional 31,300 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of Oddity Tech by 40.4% during the 1st quarter. Bamco Inc. NY now owns 1,063,183 shares of the company’s stock valued at $46,195,000 after purchasing an additional 305,767 shares in the last quarter. Institutional investors own 35.88% of the company’s stock.

About Oddity Tech

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.