22,252 Shares in Oddity Tech Ltd. (NASDAQ:ODD) Purchased by Sheets Smith Wealth Management

Sheets Smith Wealth Management purchased a new position in Oddity Tech Ltd. (NASDAQ:ODD) during the fourth quarter, HoldingsChannel reports. The fund purchased 22,252 shares of the company’s stock, valued at approximately $1,035,000.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in shares of Oddity Tech in the fourth quarter valued at $203,000. Greycroft LP purchased a new stake in Oddity Tech during the 3rd quarter valued at $227,000. TD Asset Management Inc bought a new stake in shares of Oddity Tech in the 3rd quarter worth about $261,000. Legato Capital Management LLC purchased a new stake in Oddity Tech in the 4th quarter worth about $336,000. Finally, New York State Common Retirement Fund bought a new position in shares of Oddity Tech during the third quarter valued at approximately $507,000. 35.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Evercore ISI began coverage on Oddity Tech in a research report on Thursday, April 4th. They issued an “outperform” rating and a $57.00 price objective on the stock. Morgan Stanley increased their price objective on Oddity Tech from $35.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. Bank of America upped their target price on Oddity Tech from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. JMP Securities restated a “market outperform” rating and set a $66.00 price target on shares of Oddity Tech in a research note on Thursday, March 7th. Finally, Barclays lowered their price objective on shares of Oddity Tech from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.63.

Oddity Tech Price Performance

Shares of ODD stock traded down $1.01 during mid-day trading on Monday, hitting $32.59. 719,584 shares of the stock traded hands, compared to its average volume of 831,372. The stock’s fifty day moving average is $39.37 and its two-hundred day moving average is $38.82. Oddity Tech Ltd. has a 52-week low of $24.12 and a 52-week high of $56.00. The stock has a market cap of $1.85 billion and a P/E ratio of 32.23.

Oddity Tech (NASDAQ:ODD) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $97.25 million for the quarter, compared to analyst estimates of $86.38 million. Oddity Tech had a net margin of 11.51% and a return on equity of 26.22%. As a group, equities analysts forecast that Oddity Tech Ltd. will post 1.22 EPS for the current fiscal year.

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.