Oddity Tech (NASDAQ:ODD) Price Target Raised to $42.00

Oddity Tech (NASDAQ:ODD) had its target price increased by Barclays from $39.00 to $42.00 in a research report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Oddity Tech Stock Performance

NASDAQ:ODD opened at $44.61 on Monday. The company’s 50-day simple moving average is $38.99 and its 200-day simple moving average is $38.89. Oddity Tech has a fifty-two week low of $30.23 and a fifty-two week high of $50.36. The stock has a market capitalization of $2.54 billion, a P/E ratio of 27.20, a P/E/G ratio of 1.55 and a beta of 4.40.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $119.00 million during the quarter, compared to the consensus estimate of $116.47 million. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. Oddity Tech’s revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. On average, research analysts forecast that Oddity Tech will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capital International Investors acquired a new stake in Oddity Tech during the first quarter worth about $45,811,000. Hood River Capital Management LLC acquired a new position in shares of Oddity Tech in the 2nd quarter valued at $23,397,000. Bamco Inc. NY boosted its holdings in Oddity Tech by 40.4% during the first quarter. Bamco Inc. NY now owns 1,063,183 shares of the company’s stock worth $46,195,000 after buying an additional 305,767 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Oddity Tech by 491.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock valued at $11,612,000 after buying an additional 245,764 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Oddity Tech in the second quarter valued at $6,744,000. 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.