Oddity Tech (NASDAQ:ODD) Shares Gap Down – What’s Next?

Shares of Oddity Tech Ltd. (NASDAQ:ODD) 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.

Analyst Ratings Changes

Separately, Barclays raised their target price on shares of Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Oddity Tech Price Performance

The firm has a market capitalization of $2.42 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.55 and a beta of 4.40. The business’s 50-day moving average price is $38.99 and its 200-day moving average price is $38.89.

Oddity Tech (NASDAQ:ODD) last announced its 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 net margin of 16.32% and a return on equity of 29.02%. The business had revenue of $119.00 million for the quarter, compared to analyst estimates of $116.47 million. During the same period last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities analysts forecast that Oddity Tech Ltd. will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On Oddity Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Oddity Tech by 13.3% in the 3rd quarter. Blue Trust Inc. now owns 4,834 shares of the company’s stock valued at $190,000 after buying an additional 566 shares during the last quarter. Knuff & Co LLC grew its position in Oddity Tech by 43.1% in the 2nd quarter. Knuff & Co LLC now owns 5,013 shares of the company’s stock valued at $197,000 after buying an additional 1,510 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Oddity Tech by 1.3% during the 2nd 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 in the last quarter. nVerses Capital LLC purchased a new stake in shares of Oddity Tech during the 2nd quarter worth $102,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Oddity Tech during the 2nd quarter worth $102,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.