Oddity Tech (NASDAQ:ODD) Releases FY 2024 Earnings Guidance

Oddity Tech (NASDAQ:ODD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.570-1.620 for the period, compared to the consensus estimate of 1.510. The company issued revenue guidance of $626.0 million-$635.0 million, compared to the consensus revenue estimate of $627.1 million. Oddity Tech also updated its Q2 2024 guidance to 0.610-0.640 EPS.

Oddity Tech Price Performance

Shares of NASDAQ ODD traded up $1.52 during trading hours on Thursday, hitting $38.01. 1,036,438 shares of the company’s stock were exchanged, compared to its average volume of 875,187. The company’s 50-day moving average price is $38.95 and its 200-day moving average price is $38.87. Oddity Tech has a 1-year low of $24.12 and a 1-year high of $56.00. The stock has a market capitalization of $2.16 billion and a price-to-earnings ratio of 37.27.

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

Wall Street Analyst Weigh In

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