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BOSTON, May 28, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Oddity Tech (NASDAQ:ODD) for potential securities law violations. Investors who have lost money in their Oddity Tech investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/odd. Shares in Oddity Tech fell significantly on May 21, 2024, after Ningi Research published a report alleging that the company has been misleading investors. The report all ...

If you purchased Oddity Tech stock and suffered a loss on that investment, you are encouraged to contact Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. atjkarr@holzerlaw.com, call our toll-free number at (888) 508-6832, or visit our website at www.holzerlaw.com/case/oddity-tech/ to discuss your legal rights. Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholde ...

NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) While ODDITY doesn't engage with self-interested short sellers and hostile interests, the level of deep misinformation in this report cannot go unanswered. ODDITY fundamentally rejects the short seller report. The allegations contained in the report by NINGI Research are based on demonstrable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation. The short seller report was published without any involvem ...

NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) While ODDITY doesn't engage with self-interested short sellers and hostile interests, the level of deep misinformation in this report cannot go unanswered. ODDITY fundamentally rejects the short seller report. The allegations contained in the report by NINGI Research are based on demonstrable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation. The short seller report was published without any involvem ...

Core Viewpoint - Oddity Tech's stock is experiencing significant declines following a short report from Ningi Research, which raises concerns about the company's claims and business practices [1][4]. Group 1: Allegations by Ningi Research - Ningi Research alleges that Oddity Tech operates over 40 physical retail locations in Israel, contradicting its portrayal as an online-only retailer [2]. - The report suggests that a substantial portion of Oddity Tech's business is derived from these physical locations, challenging the company's narrative of strong online sales in the U.S. [2]. - Ningi Research criticizes Oddity Tech's profit generation methods, claiming that customers are misled into non-cancelable subscriptions through deceptive AI quizzes [3]. Group 2: Stock Performance - Following the release of the short report, Oddity Tech's stock (ODD) has seen heavy trading, with over 2.6 million shares exchanged, surpassing its average daily volume of approximately 1.1 million shares [4]. - As of Tuesday morning, Oddity Tech's stock is down 14.7% for the day and has declined 21.6% year-to-date [4].

Shares of Oddity Tech (ODD) have gained 25.3% over the past four weeks to close the last trading session at $40.99, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $52 indicates a potential upside of 26.9%. The average comprises eight short-term price targets ranging from a low of $42 to a high of $66, with a standard deviation of $8.02. While the lowest estimate indicates an in ...

Core Viewpoint - A short seller, Ningi Research, has accused Oddity Tech of misleading investors regarding its business model, claiming it is not solely an online retailer as advertised [1][4]. Company Allegations - Ningi Research published a report alleging that Oddity Tech operates over 40 physical stores in Israel, contradicting its claim of being a purely digital retailer [4]. - The report suggests that the majority of Oddity's profits are derived from its operations in Israel rather than the U.S. market [4]. - Ningi Research claims that Oddity's growth is significantly driven by subscription models that are difficult for consumers to cancel, leading to inflated repeat purchase rates [5]. Customer Complaints - The report highlights numerous complaints from customers regarding deceptive billing practices, with many alleging wrongful charges [6]. - Oddity's CEO, Oran Holtzman, acknowledged that a small percentage of customers may experience confusion regarding pre-authorizations related to their "Try before you buy" option [7][8]. - Holtzman stated that the company has invested in technology to educate users about its billing practices and improve customer experience [8]. Market Reaction - Following the allegations, Oddity's shares fell over 12% in premarket trading, indicating a negative market reaction to the news [3].

Core Viewpoint - Oddity Tech is a consumer tech company that integrates AI and machine learning into the beauty industry, showcasing a unique approach to product personalization and development, which has led to impressive growth and a promising valuation [1][4][17] Company Overview - Oddity Tech operates under a direct-to-consumer (DTC) model, leveraging technology to disrupt the traditional beauty industry [1] - The company went public in 2023 at a price of $35 and is headquartered in Israel [1] Technology and Innovation - Over 40% of Oddity's workforce is involved in engineering and data science, indicating a strong tech foundation [2] - The company utilizes AI for product matching based on individual skin types, employing computer vision and hyperspectral imaging for analysis [3] - Oddity Labs, the company's biotech lab, focuses on developing new molecules and peptides using AI, with proprietary products like Fibroquin aimed at improving skin health [4] Financial Performance - In Q1, Oddity reported revenue of $212 million, a 28% year-over-year growth, with earnings per share (EPS) of $0.61, both exceeding expectations [7] - The company anticipates an EPS range of $1.57 to $1.62 and revenue between $626 million and $635 million for the year [7] Customer Retention - Oddity boasts a repeat revenue rate exceeding 50%, with a 12-month net revenue repeat rate of 100%, indicating strong customer loyalty [5][6] Product Portfolio - Oddity currently has two brands: IL MAKIAGE, launched in 2018, and SpoiledChild, launched in 2022, with a third brand expected to launch next year [8][9] - The beauty industry represents a $600 billion total addressable market (TAM), with the skincare market projected to reach $186 billion by 2028, providing ample growth opportunities [10] Valuation Metrics - Oddity's valuation multiples are above average for a growth company, with an enterprise value (EV) multiple of 15.84, approximately 46% above the sector median [11] - Despite high multiples, the company's growth justifies the valuation, with trailing and forward PEG ratios over 40% below the sector median [11] Market Outlook - Wall Street's average price target for Oddity is around $52, suggesting potential for further stock appreciation [12]

Core Viewpoint - Oddity Tech (ODD) shows a promising earnings outlook, with analysts raising their earnings estimates, indicating potential for continued stock momentum [1][2] Earnings Estimate Revisions - The upward trend in earnings estimate revisions reflects growing analyst optimism about Oddity Tech's earnings prospects, which is expected to positively impact its stock price [2] - For the current quarter, the earnings estimate is $0.62 per share, representing a +10.71% change from the previous year, with a Zacks Consensus Estimate increase of 8.91% over the last 30 days [5] - For the full year, the earnings estimate is $1.62 per share, reflecting a +23.66% change from the year-ago number, with a consensus estimate increase of 7.41% due to three upward revisions [6] Zacks Rank - Oddity Tech currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in revising earnings estimates upward, which historically correlates with stock outperformance [3][8] - Stocks with Zacks Rank 1 and 2 significantly outperform the S&P 500, suggesting a favorable investment opportunity in Oddity Tech [8] Stock Performance - The stock has gained 26.4% over the past four weeks, driven by solid estimate revisions, indicating strong investor interest and potential for further growth [9]