Morgan Stanley Issues Positive Forecast for Oddity Tech (NASDAQ:ODD) Stock Price

Oddity Tech (NASDAQ:ODD) had its price target raised by Morgan Stanley from $46.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Barclays upped their price objective on Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Oddity Tech Trading Down 1.0 %

Shares of ODD stock opened at $49.45 on Thursday. Oddity Tech has a twelve month low of $30.34 and a twelve month high of $51.00. The company’s 50-day moving average price is $42.84 and its 200-day moving average price is $40.17. The stock has a market cap 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 (NASDAQ:ODD) last issued its earnings results on Wednesday, November 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. Oddity Tech had a net margin of 16.32% and a return on equity of 29.02%. The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $116.47 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Oddity Tech’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts predict that Oddity Tech will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ODD. Massachusetts Financial Services Co. MA grew its holdings in shares of Oddity Tech by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,273,469 shares of the company’s stock valued at $49,996,000 after purchasing an additional 5,417 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Oddity Tech by 0.8% in the third quarter. Bamco Inc. NY now owns 1,246,046 shares of the company’s stock valued at $50,315,000 after acquiring an additional 9,665 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Oddity Tech by 8.6% in the second quarter. Y.D. More Investments Ltd now owns 596,940 shares of the company’s stock valued at $23,436,000 after purchasing an additional 47,390 shares during the period. Hood River Capital Management LLC purchased a new position in Oddity Tech in the second quarter valued at $23,397,000. Finally, Janus Henderson Group PLC grew its stake in Oddity Tech by 11.1% during the 3rd quarter. Janus Henderson Group PLC now owns 492,198 shares of the company’s stock worth $19,877,000 after purchasing an additional 49,101 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.