Oddity Tech (NASDAQ:ODD) Issues 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 guidance of 1.570-1.620 for the period, compared to the consensus earnings per share 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 Stock Up 4.2 %

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ODD shares. Morgan Stanley increased their price target 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. Barclays decreased their price objective on Oddity Tech from $46.00 to $44.00 and set an equal weight rating for the company in a report on Friday, April 12th. Bank of America increased their price target on shares of Oddity Tech from $44.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, March 7th. JMP Securities restated a market outperform rating and issued a $66.00 price objective on shares of Oddity Tech in a report on Thursday, March 7th. Finally, Evercore ISI began coverage on Oddity Tech in a research note on Thursday, April 4th. They issued an outperform rating and a $57.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Oddity Tech currently has an average rating of Moderate Buy and an average price target 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.