Morgan Stanley Increases Oddity Tech (NASDAQ:ODD) Price Target to $50.00

Oddity Tech (NASDAQ:ODD) had its target price lifted by stock analysts at Morgan Stanley from $46.00 to $50.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 1.11% from the company’s current price.

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

Oddity Tech Trading Down 1.0 %

ODD stock opened at $49.45 on Thursday. Oddity Tech has a 12-month low of $30.34 and a 12-month high of $51.00. The business’s 50-day moving average is $42.84 and its 200 day moving average is $40.14. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.43 and a beta of 4.45.

Oddity Tech (NASDAQ:ODD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $116.47 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. As a group, equities analysts forecast that Oddity Tech will post 1.64 EPS for the current fiscal year.

Institutional Trading of Oddity Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in shares of Oddity Tech during the 2nd quarter valued at about $23,397,000. Wellington Management Group LLP acquired a new position in Oddity Tech in the 3rd quarter valued at about $12,085,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Oddity Tech by 491.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock valued at $11,612,000 after buying an additional 245,764 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Oddity Tech during the 2nd quarter worth approximately $6,744,000. Finally, Bank of New York Mellon Corp raised 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 buying an additional 134,853 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.