Oddity Tech (NASDAQ:ODD) Issues Q2 Earnings Guidance

Oddity Tech (NASDAQ:ODD) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.61-0.64 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $185-189 million, compared to the consensus revenue estimate of $186.43 million. Oddity Tech also updated its FY24 guidance to $1.57-1.62 EPS.

Oddity Tech Trading Down 3.2 %

Shares of ODD traded down $1.05 during trading hours on Tuesday, reaching $31.26. The company had a trading volume of 2,196,418 shares, compared to its average volume of 854,085. The firm has a 50 day simple moving average of $39.22 and a 200-day simple moving average of $38.86. The company has a market capitalization of $1.78 billion and a price-to-earnings ratio of 30.91. Oddity Tech has a 12-month low of $24.12 and a 12-month high of $56.00.

Oddity Tech (NASDAQ:ODD) last posted its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Oddity Tech had a net margin of 11.51% and a return on equity of 26.22%. The firm had revenue of $97.25 million during the quarter, compared to the consensus estimate of $86.38 million. Sell-side analysts forecast that Oddity Tech will post 1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.