Oddity Tech (NASDAQ:ODD) Coverage Initiated at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of Oddity Tech (NASDAQ:ODD) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $48.00 price target on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 2.93% from the company’s previous close.

Several other analysts also recently commented on the stock. Barclays raised their price objective on shares of Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Morgan Stanley raised their price objective on Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Oddity Tech Stock Down 1.0 %

NASDAQ ODD opened at $49.45 on Friday. The stock has a fifty day simple moving average of $42.84 and a 200 day simple moving average of $40.17. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.43 and a beta of 4.45. Oddity Tech has a twelve month low of $30.34 and a twelve month high of $51.00.

Oddity Tech (NASDAQ:ODD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The company had revenue of $119.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. Research analysts expect that Oddity Tech will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Oddity Tech

Several hedge funds have recently added to or reduced their stakes in ODD. Renaissance Technologies LLC bought a new stake in Oddity Tech in the 2nd quarter valued at about $3,722,000. Bank of New York Mellon Corp boosted its stake in shares of Oddity Tech by 1,303.8% during the second quarter. Bank of New York Mellon Corp now owns 145,196 shares of the company’s stock valued at $5,700,000 after purchasing an additional 134,853 shares during the period. Seven Eight Capital LP purchased a new position in shares of Oddity Tech in the second quarter valued at about $1,060,000. ARK Investment Management LLC lifted its holdings in Oddity Tech by 30.5% in the 2nd 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 during the period. Finally, Aurora Investment Counsel purchased a new position in Oddity Tech during the 3rd quarter valued at $2,056,000. Institutional investors own 35.88% of the company’s stock.

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.