Hood River Capital Management LLC Makes New $23.40 Million Investment in Oddity Tech Ltd. (NASDAQ:ODD)

Hood River Capital Management LLC purchased a new stake in Oddity Tech Ltd. (NASDAQ:ODD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 595,959 shares of the company’s stock, valued at approximately $23,397,000. Hood River Capital Management LLC owned 1.05% of Oddity Tech as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sei Investments Co. lifted its position in shares of Oddity Tech by 36.5% during the 2nd quarter. Sei Investments Co. now owns 24,514 shares of the company’s stock valued at $962,000 after acquiring an additional 6,556 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Oddity Tech in the second quarter valued at $102,000. XTX Topco Ltd raised its holdings in shares of Oddity Tech by 108.7% during the second quarter. XTX Topco Ltd now owns 14,052 shares of the company’s stock valued at $552,000 after purchasing an additional 7,318 shares during the period. Seven Eight Capital LP bought a new position in shares of Oddity Tech during the 2nd quarter worth about $1,060,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Oddity Tech in the 2nd quarter valued at about $3,722,000. 35.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ODD. Barclays dropped their price target on Oddity Tech from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $58.00 target price on shares of Oddity Tech in a research report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Oddity Tech has an average rating of “Moderate Buy” and a consensus price target of $52.43.

Oddity Tech Stock Performance

Shares of ODD opened at $35.58 on Monday. The firm has a market capitalization of $2.02 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.13 and a beta of 4.48. Oddity Tech Ltd. has a 52 week low of $24.12 and a 52 week high of $50.36. The stock has a 50 day moving average price of $38.19 and a two-hundred day moving average price of $38.66.

Oddity Tech (NASDAQ:ODD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.24. Oddity Tech had a return on equity of 26.66% and a net margin of 14.66%. The business had revenue of $192.77 million during the quarter, compared to the consensus estimate of $188.49 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Oddity Tech’s revenue was up 27.4% compared to the same quarter last year. On average, equities analysts forecast that Oddity Tech Ltd. will post 1.46 earnings per share for the current year.

Oddity Tech Company 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.