ODDITY Tech Ltd. Class A, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Ryan MacDonald from Needham reiterated a Buy rating on the stock and has a $72.00 price target.
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Ryan MacDonald has given his Buy rating due to a combination of factors including ODDITY Tech Ltd.’s robust performance in the third quarter, which showcased strong growth despite challenging macroeconomic conditions. The company’s domestic market continues to drive growth, while international markets are also scaling rapidly, with revenue increasing by 40% year-to-date.
Furthermore, the introduction of their new brand, METHODIQ, is expected to significantly expand their total addressable market in the dermatology sector. Although scaling this new brand will require time, the management is optimistic about its potential to grow faster than previous launches. MacDonald believes that these growth strategies, along with the company’s focus on achieving a 20% growth and EBITDA margin profile by fiscal year 2026, provide multiple opportunities to enhance their topline, justifying the Buy rating.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $79.00 price target.