Analysts Set Oddity Tech Ltd. (NASDAQ:ODD) Target Price at $53.50

Shares of Oddity Tech Ltd. (NASDAQ:ODD) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $53.50.

Several brokerages have recently commented on ODD. Truist Financial reaffirmed a “buy” rating and issued a $58.00 target price on shares of Oddity Tech in a research report on Friday, June 7th. Barclays reduced their price objective on Oddity Tech from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th.

Oddity Tech Stock Down 1.2 %

Shares of Oddity Tech stock opened at $38.02 on Tuesday. The stock has a market cap of $2.16 billion and a PE ratio of 31.68. The business has a fifty day simple moving average of $39.77 and a 200-day simple moving average of $39.93. Oddity Tech has a 12 month low of $24.12 and a 12 month high of $55.20.

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

Institutional Trading of Oddity Tech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Knuff & Co LLC increased its stake in shares of Oddity Tech by 43.1% in the second quarter. Knuff & Co LLC now owns 5,013 shares of the company’s stock worth $197,000 after purchasing an additional 1,510 shares during the period. nVerses Capital LLC bought a new position in shares of Oddity Tech in the second quarter worth about $102,000. Peregrine Capital Management LLC increased its stake in shares of Oddity Tech by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 143,384 shares of the company’s stock worth $5,629,000 after purchasing an additional 1,784 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Oddity Tech by 340.2% in 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. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Oddity Tech by 491.5% in 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 period. Institutional investors and hedge funds 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.