Oddity Tech Ltd. (NASDAQ:ODD) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in Oddity Tech Ltd. (NASDAQ:ODD) by 31.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 461,045 shares of the company’s stock after buying an additional 110,020 shares during the period. Millennium Management LLC’s holdings in Oddity Tech were worth $19,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Penn Capital Management Company LLC acquired a new position in Oddity Tech during the 4th quarter valued at about $8,690,000. Susquehanna Fundamental Investments LLC acquired a new position in Oddity Tech during the 4th quarter valued at about $329,000. Wells Fargo & Company MN boosted its stake in Oddity Tech by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after purchasing an additional 449 shares during the period. Blue Trust Inc. boosted its stake in Oddity Tech by 33.2% during the 4th quarter. Blue Trust Inc. now owns 6,437 shares of the company’s stock valued at $260,000 after purchasing an additional 1,603 shares during the period. Finally, Norges Bank acquired a new position in Oddity Tech during the 4th quarter valued at about $9,470,000. 35.88% of the stock is owned by institutional investors and hedge funds.

Oddity Tech Price Performance

NASDAQ ODD opened at $64.81 on Thursday. The company’s 50 day simple moving average is $49.77 and its 200 day simple moving average is $46.43. Oddity Tech Ltd. has a 12 month low of $32.71 and a 12 month high of $73.00. The company has a market capitalization of $3.62 billion, a P/E ratio of 39.52, a PEG ratio of 1.48 and a beta of 3.44.

Oddity Tech (NASDAQ:ODD) last released its earnings results on Tuesday, April 29th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The business had revenue of $268.08 million for the quarter, compared to the consensus estimate of $260.71 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts anticipate that Oddity Tech Ltd. will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ODD shares. The Goldman Sachs Group upped their price target on shares of Oddity Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Bank of America upped their price target on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $66.00 price target on shares of Oddity Tech in a research note on Tuesday, April 22nd. KeyCorp reduced their price target on shares of Oddity Tech from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Barclays upped their price target on shares of Oddity Tech from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Oddity Tech has a consensus rating of “Moderate Buy” and a consensus target price of $54.63.

Oddity Tech Profile

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.