{"id":40855,"date":"2023-10-03T08:38:07","date_gmt":"2023-10-03T08:38:07","guid":{"rendered":"https:\/?p=40855"},"modified":"2023-10-03T08:38:07","modified_gmt":"2023-10-03T08:38:07","slug":"oddity-stock-forecast-q3-preliminary-results-spark-surge","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/oddity-stock-forecast-q3-preliminary-results-spark-surge\/","title":{"rendered":"ODDITY Stock Forecast: Q3 Preliminary Results Spark Surge"},"content":{"rendered":"

ODDITY (<\/span>ODD:NSD<\/span><\/a>) has recently revealed preliminary financial results for the third quarter. Results have surpassed the expectations set by the management. This announcement has led to a remarkable surge in ODD stock, witnessing a remarkable gain of more than 12% in after-hours trading following the disclosure. This article will disclose the factors leading to this surge and the ODDITY stock forecast.<\/span><\/p>\n

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Leading Digital Beauty & Wellness Brands:<\/span><\/h2>\n

ODDITY is a tech-driven company that specializes in crafting digital-first brands targeting the beauty and wellness industry. It harnesses proprietary technology, encompassing Artificial Intelligence (AI), computer vision, and molecular discovery platforms, to develop its innovative range of beauty products.<\/span><\/p>\n

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Strongest Ever Q3 Performance:<\/span><\/h2>\n

The Israel-based firm has unveiled that its third-quarter performance is on track to become its most robust to date. The company anticipates an impressive net revenue increase in the range of 29-30% compared to its earlier guidance of 18-23%. Furthermore, ODDITY projects a substantial gross margin of 68.5% for Q3, surpassing its prior outlook of 67.5%.<\/span><\/p>\n

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ODDITY’s Projections for 2023:<\/span><\/h2>\n

ODDITY expects over 58% net revenue growth and a minimum $89 million adjusted EBITDA in the first nine months of 2023. CEO Oran Holtzman is confident in the consistently high growth and profitability of IL MAKIAGE and SpoiledChild, with plans to scale further in 2024 and beyond. The company is slated to release its official third-quarter results in November.<\/span><\/p>\n

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Mixed Performance Since IPO:<\/span><\/h2>\n

While ODDITY’s exceptional preliminary Q3 financial results have propelled its share price, it’s worth noting that ODD stock has reversed some of its initial gains since its IPO, currently down by over 43% since listing on the exchange.<\/span><\/p>\n

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ODDITY Stock Forecast:<\/span><\/h2>\n

Based on the ODDITY stock forecast from seven analysts, the average analyst target price is $59.88 over the next 12 months. Analysts maintain an average rating of Buy. In contrast, Stock Target Advisor’s analysts are Neutral position. <\/span><\/p>\n

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ODD Ratings<\/a> by Stock Target Advisor<\/p>\n<\/div>\n