J.P. Morgan analyst Cory Carpenter maintained a Buy rating on ODDITY Tech Ltd. Class A yesterday and set a price target of $67.00.
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Cory Carpenter has given his Buy rating due to a combination of factors that highlight ODDITY Tech Ltd.’s strong performance and growth potential. The company has consistently delivered better-than-expected results for ten consecutive quarters, showcasing its resilience and ability to outperform market expectations. Despite recent stock volatility, the company’s robust financial metrics, such as a 24% year-over-year revenue growth and a 16% increase in adjusted EBITDA, underscore its operational efficiency and market strength.
Furthermore, ODDITY’s strategic initiatives, including international expansion and the launch of new brands like MethodIQ, are expected to drive sustained growth. The company’s ability to capitalize on the growing online beauty market and its potential for healthcare market expansion are additional factors supporting the positive outlook. Carpenter also notes that the stock is trading at a discount compared to its peers, presenting a favorable risk/reward scenario for investors. These elements collectively justify the Buy rating and position ODDITY as a top investment idea heading into the year-end.
Carpenter covers the Communication Services sector, focusing on stocks such as Roblox, Angi, and Yelp. According to TipRanks, Carpenter has an average return of -0.2% and a 41.40% success rate on recommended stocks.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $72.00 price target.