Oddity Tech (NASDAQ:ODD) Shares Gap Up to $31.26

Shares of Oddity Tech Ltd. (NASDAQ:ODD) gapped up prior to trading on Wednesday . The stock had previously closed at $31.26, but opened at $35.44. Oddity Tech shares last traded at $36.22, with a volume of 923,281 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ODD. JMP Securities reissued a “market outperform” rating and issued a $66.00 target price on shares of Oddity Tech in a research note on Thursday, March 7th. Bank of America raised their target price on shares of Oddity Tech from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Barclays cut their target price on shares of Oddity Tech from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, April 12th. Evercore ISI began coverage on shares of Oddity Tech in a research note on Thursday, April 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of Oddity Tech from $35.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.63.

Oddity Tech Stock Performance

The stock’s fifty day moving average is $38.87 and its two-hundred day moving average is $38.87. The firm has a market capitalization of $2.16 billion and a price-to-earnings ratio of 31.68.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $97.25 million during the quarter, compared to analyst estimates of $86.38 million. Oddity Tech had a net margin of 11.51% and a return on equity of 26.22%. Sell-side analysts anticipate that Oddity Tech Ltd. will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division acquired a new position in Oddity Tech during the 4th quarter worth $1,211,000. FMR LLC acquired a new position in Oddity Tech during the 3rd quarter worth $47,208,000. Baillie Gifford & Co. bought a new position in shares of Oddity Tech in the 3rd quarter worth about $157,621,000. Y.D. More Investments Ltd lifted its position in shares of Oddity Tech by 10.8% in the 4th quarter. Y.D. More Investments Ltd now owns 399,550 shares of the company’s stock worth $18,591,000 after buying an additional 39,000 shares during the last quarter. Finally, Ibex Investors LLC bought a new position in shares of Oddity Tech in the 3rd quarter worth about $2,855,000. 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.