Oddity Tech (NASDAQ:ODD) Hits New 1-Year High – What’s Next?

Oddity Tech Ltd. (NASDAQ:ODD)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $50.96 and last traded at $50.27, with a volume of 608533 shares changing hands. The stock had previously closed at $47.92.

Wall Street Analysts Forecast Growth

Separately, Barclays lifted their target price on Oddity Tech from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.33.

Oddity Tech Price Performance

The company has a market cap of $2.82 billion, a P/E ratio of 29.88, a PEG ratio of 1.44 and a beta of 4.45. The stock has a 50-day moving average of $41.98 and a 200 day moving average of $39.76.

Oddity Tech (NASDAQ:ODD) last released its earnings results on Wednesday, November 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Oddity Tech had a return on equity of 29.02% and a net margin of 16.32%. The firm had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $116.47 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. Sell-side analysts predict that Oddity Tech Ltd. will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ODD. California State Teachers Retirement System grew its holdings in shares of Oddity Tech by 37.1% during the first quarter. California State Teachers Retirement System now owns 21,538 shares of the company’s stock worth $936,000 after purchasing an additional 5,826 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Oddity Tech during the second quarter worth about $550,000. Bank of New York Mellon Corp grew its holdings 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 worth $5,700,000 after purchasing an additional 134,853 shares during the last quarter. 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 purchasing an additional 15,062 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Oddity Tech by 491.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 295,764 shares of the company’s stock worth $11,612,000 after purchasing an additional 245,764 shares during the last quarter. 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.