Oddity Tech (NASDAQ:ODD) Trading Up 6.8% After Analyst Upgrade

Shares of Oddity Tech Ltd. (NASDAQ:ODD) were up 6.8% on Friday after Barclays raised their price target on the stock from $42.00 to $46.00. Barclays currently has an equal weight rating on the stock. Oddity Tech traded as high as $47.75 and last traded at $48.19. Approximately 111,068 shares traded hands during trading, a decline of 75% from the average daily volume of 452,347 shares. The stock had previously closed at $45.11.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Oddity Tech in a research note on Friday, January 31st. They set an “overweight” rating and a $55.00 target price on the stock. The Goldman Sachs Group initiated coverage on Oddity Tech in a report on Friday, December 13th. They set a “neutral” rating and a $48.00 price objective on the stock. Bank of America upped their target price on Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley increased their target price on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, KeyCorp boosted their price target on Oddity Tech from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.44.

Institutional Trading of Oddity Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new position in shares of Oddity Tech in the 4th quarter worth about $42,000. R Squared Ltd acquired a new stake in Oddity Tech during the fourth quarter worth approximately $61,000. Wilmington Savings Fund Society FSB bought a new stake in Oddity Tech in the third quarter worth approximately $99,000. Wells Fargo & Company MN lifted its stake in Oddity Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after buying an additional 449 shares during the period. Finally, Quarry LP bought a new position in shares of Oddity Tech during the 3rd quarter worth approximately $122,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Oddity Tech Trading Up 5.6 %

The firm’s 50-day moving average price is $44.24 and its 200 day moving average price is $41.95. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.48 and a beta of 4.34.

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.