Seven Eight Capital LP Makes New $1.06 Million Investment in Oddity Tech Ltd. (NASDAQ:ODD)

Seven Eight Capital LP acquired a new stake in Oddity Tech Ltd. (NASDAQ:ODD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 26,994 shares of the company’s stock, valued at approximately $1,060,000.

Several other hedge funds also recently modified their holdings of ODD. Baillie Gifford & Co. boosted its position in Oddity Tech by 15.2% during the first quarter. Baillie Gifford & Co. now owns 6,312,730 shares of the company’s stock valued at $274,288,000 after purchasing an additional 833,643 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Oddity Tech by 15.5% in the 4th quarter. Franklin Resources Inc. now owns 1,279,002 shares of the company’s stock valued at $59,512,000 after buying an additional 171,652 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Oddity Tech by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company’s stock valued at $49,996,000 after buying an additional 5,417 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Oddity Tech by 40.4% in the first quarter. Bamco Inc. NY now owns 1,063,183 shares of the company’s stock valued at $46,195,000 after buying an additional 305,767 shares in the last quarter. Finally, Capital International Investors acquired a new position in Oddity Tech during the first quarter worth $45,811,000. Institutional investors own 35.88% of the company’s stock.

Analyst Ratings Changes

ODD has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Oddity Tech from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $58.00 price target on shares of Oddity Tech in a report on Friday, June 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.43.

Oddity Tech Price Performance

NASDAQ:ODD opened at $35.58 on Friday. The company has a market cap of $2.02 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.13 and a beta of 4.48. The firm’s fifty day moving average price is $38.33 and its two-hundred day moving average price is $38.82. Oddity Tech Ltd. has a one year low of $24.12 and a one year high of $50.36.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.24. Oddity Tech had a net margin of 14.66% and a return on equity of 26.66%. The firm had revenue of $192.77 million for the quarter, compared to analysts’ expectations of $188.49 million. During the same period in the prior year, the firm earned $0.52 EPS. The business’s revenue was up 27.4% on a year-over-year basis. As a group, equities research analysts expect 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.