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Oddity Tech Ltd (NASDAQ: ODD) gained nearly 10% in extended hours after reporting its preliminary results for the third quarter.
Il Makiage and Spoiled Child parent company Oddity Tech started trading on the Nasdaq in July and has seen shares fall by about 50%.
NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) today announced certain preliminary unaudited financial results for the third quarter ended September 30, 2023. A conference call to discuss these preliminary results is scheduled for tomorrow, October 3, 2023, at 8:30 a.m. ET.
Oddity is a very recent IPO stock that jumped after the IPO and fell after its first earnings report. It's posting high sales growth and robust profitability.
Oddity Tech operates an AI-powered cosmetics company and is racking up sales and profits. It beat expectations in its first quarter as a public company and raised full-year guidance.
Oddity Tech, owner of the wildly popular online makeup brand Il Makiage, has priced in a flawless future.
Growth investing can lead to considerable gains in the stock market. Indeed, research has shown that revenue growth best predicts a stock's long-term returns.
Oddity Tech aims to disrupt the beauty and wellness industry through technology and a direct-to-consumer business model. The company has seen significant growth and has over 4 million active customers, but is expected to post softer results in the second half of the year. Despite strong second quarter results, the company's stock-based compensation expenses and seasonality pose concerns for future earnings.
Analysts at Bank of America (BoA) have initiated coverage of health and wellness-focused technology company Oddity Tech with a ‘Neutral' rating and a $60 price target. Oddity's shares traded at $46.54 on Monday afternoon.