Oddity Tech (NASDAQ:ODD) Price Target Raised to $50.00

Oddity Tech (NASDAQ:ODD) had its target price upped by Morgan Stanley from $46.00 to $50.00 in a report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Separately, Barclays raised their target price on Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Oddity Tech Price Performance

Shares of NASDAQ ODD opened at $49.45 on Thursday. Oddity Tech has a 1-year low of $30.34 and a 1-year high of $51.00. The business has a fifty day moving average price of $42.84 and a 200 day moving average price of $40.17. The stock has a market capitalization of $2.81 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.43 and a beta of 4.45.

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. As a group, equities research analysts anticipate that Oddity Tech will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oddity Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODD. Renaissance Technologies LLC purchased a new position in shares of Oddity Tech in the second quarter valued at approximately $3,722,000. Bank of New York Mellon Corp boosted its stake in Oddity Tech by 1,303.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 145,196 shares of the company’s stock worth $5,700,000 after purchasing an additional 134,853 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Oddity Tech during the 2nd quarter worth $1,060,000. ARK Investment Management LLC grew its holdings in shares of Oddity Tech by 30.5% during the second quarter. ARK Investment Management LLC now owns 64,468 shares of the company’s stock worth $2,531,000 after buying an additional 15,062 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new stake in shares of Oddity Tech in the third quarter valued at about $2,056,000. 35.88% of the stock is 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.