Oddity Tech (NASDAQ:ODD) Shares Gap Up – Here’s Why

Oddity Tech Ltd. (NASDAQ:ODD)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $43.26, but opened at $44.33. Oddity Tech shares last traded at $42.70, with a volume of 21,636 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ODD shares. Barclays boosted their price target on Oddity Tech from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. KeyCorp upped their price target on shares of Oddity Tech from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Morgan Stanley lifted their price objective on shares of Oddity Tech from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Bank of America increased their target price on shares of Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Oddity Tech in a research report on Friday, December 13th. They issued a “neutral” rating and a $48.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Oddity Tech Price Performance

The stock has a market capitalization of $2.66 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.48 and a beta of 4.20. The firm has a 50-day simple moving average of $44.70 and a 200 day simple moving average of $43.22.

Institutional Investors Weigh In On Oddity Tech

Several hedge funds have recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its position in Oddity Tech by 1.1% in the 4th quarter. D.A. Davidson & CO. now owns 25,838 shares of the company’s stock valued at $1,086,000 after acquiring an additional 273 shares during the period. Wells Fargo & Company MN increased its holdings in Oddity Tech by 17.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $126,000 after purchasing an additional 449 shares during the period. California State Teachers Retirement System raised its position in Oddity Tech by 1.7% during the 4th quarter. California State Teachers Retirement System now owns 31,401 shares of the company’s stock worth $1,319,000 after purchasing an additional 511 shares during the last quarter. American Century Companies Inc. lifted its holdings in Oddity Tech by 5.1% during the 4th quarter. American Century Companies Inc. now owns 12,334 shares of the company’s stock worth $518,000 after buying an additional 593 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Oddity Tech by 1.2% in the third quarter. Geode Capital Management LLC now owns 63,625 shares of the company’s stock valued at $2,569,000 after buying an additional 750 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.