Oddity Tech (NASDAQ:ODD) Updates Q2 2024 Earnings Guidance

Oddity Tech (NASDAQ:ODD) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.610-0.640 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $185.0 million-$189.0 million, compared to the consensus revenue estimate of $186.5 million. Oddity Tech also updated its FY 2024 guidance to 1.570-1.620 EPS.

Oddity Tech Price Performance

ODD stock traded up $1.52 during midday trading on Thursday, reaching $38.01. 1,036,438 shares of the company’s stock traded hands, compared to its average volume of 875,187. The company has a market capitalization of $2.16 billion and a P/E ratio of 37.27. Oddity Tech has a fifty-two week low of $24.12 and a fifty-two week high of $56.00. The business has a 50-day moving average price of $38.95 and a two-hundred day moving average price of $38.87.

Oddity Tech (NASDAQ:ODD) last announced its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Oddity Tech had a return on equity of 26.22% and a net margin of 11.51%. The business had revenue of $97.25 million for the quarter, compared to analyst estimates of $86.38 million. As a group, research analysts forecast that Oddity Tech will post 1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ODD shares. Morgan Stanley boosted their price objective on shares of Oddity Tech from $35.00 to $47.00 and gave the company an equal weight rating in a research report on Thursday, March 7th. Evercore ISI initiated coverage on shares of Oddity Tech in a research report on Thursday, April 4th. They set an outperform rating and a $57.00 price target for the company. JMP Securities restated a market outperform rating and issued a $66.00 price target on shares of Oddity Tech in a research note on Thursday, March 7th. Barclays reduced their price objective 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. Finally, Bank of America increased their price target on Oddity Tech from $44.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, March 7th. 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, the company presently has an average rating of Moderate Buy and an average target price of $53.63.

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.