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

Shares of Oddity Tech Ltd. (NASDAQ:ODD) gapped up before the market opened on Thursday . The stock had previously closed at $40.46, but opened at $41.62. Oddity Tech shares last traded at $40.89, with a volume of 9,857 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on ODD shares. Bank of America increased their price target on Oddity Tech from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. KeyCorp lowered their target price on shares of Oddity Tech from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on Oddity Tech in a report on Friday, January 31st. They issued an “overweight” rating and a $55.00 target price for the company. Finally, Barclays raised their target price on Oddity Tech from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.14.

Oddity Tech Price Performance

The company has a 50 day moving average of $43.42 and a 200-day moving average of $43.47. The company has a market cap of $2.33 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.48 and a beta of 3.73.

Hedge Funds Weigh In On Oddity Tech

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Oddity Tech during the first quarter worth about $662,000. Moody National Bank Trust Division raised its stake in shares of Oddity Tech by 14.1% during the first quarter. Moody National Bank Trust Division now owns 105,781 shares of the company’s stock worth $4,576,000 after acquiring an additional 13,085 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Oddity Tech by 1.7% in the 4th quarter. California State Teachers Retirement System now owns 31,401 shares of the company’s stock worth $1,319,000 after acquiring an additional 511 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Oddity Tech in the 4th quarter valued at $299,000. Finally, Ashford Capital Management Inc. raised its position in Oddity Tech by 3.2% in the 4th quarter. Ashford Capital Management Inc. now owns 719,758 shares of the company’s stock worth $30,244,000 after purchasing an additional 22,098 shares during the period. Institutional investors own 35.88% of the company’s stock.

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.