Bank of America Forecasts Strong Price Appreciation for Oddity Tech (NASDAQ:ODD) Stock

Oddity Tech (NASDAQ:ODD) had its target price boosted by analysts at Bank of America from $50.00 to $58.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 21.80% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Oddity Tech in a research report on Friday, January 31st. They set an “overweight” rating and a $55.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Oddity Tech in a research report on Friday, December 13th. They set a “neutral” rating and a $48.00 price objective on the stock. Barclays lifted their price objective on shares of Oddity Tech from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of Oddity Tech from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, KeyCorp boosted their price target on shares of Oddity Tech from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.44.

Oddity Tech Price Performance

Shares of NASDAQ:ODD opened at $47.62 on Thursday. Oddity Tech has a 1-year low of $30.34 and a 1-year high of $51.00. The company has a market capitalization of $2.71 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.48 and a beta of 4.34. The firm’s 50 day simple moving average is $44.24 and its two-hundred day simple moving average is $41.95.

Institutional Trading of Oddity Tech

Several hedge funds have recently modified their holdings of ODD. Catalyst Capital Advisors LLC lifted its position in shares of Oddity Tech by 44.9% during the third quarter. Catalyst Capital Advisors LLC now owns 20,280 shares of the company’s stock valued at $819,000 after buying an additional 6,280 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Oddity Tech by 267.9% during the third quarter. GSA Capital Partners LLP now owns 30,649 shares of the company’s stock valued at $1,238,000 after buying an additional 22,319 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Oddity Tech during the third quarter valued at about $2,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Oddity Tech by 4.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,104 shares of the company’s stock valued at $2,387,000 after buying an additional 2,665 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of Oddity Tech by 7.2% during the third quarter. Verition Fund Management LLC now owns 35,248 shares of the company’s stock valued at $1,423,000 after buying an additional 2,368 shares during the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.