Oddity downgraded to Hold from Buy at Jefferies

Jefferies analyst Brian Tanquilut downgraded Oddity (ODD) to Hold from Buy with a price target of $18, down from $64, given a belief that the stock will see near-term pressure and “trade sideways at trough levels” until management can regain their track record of delivering consistent earnings beats. Despite a “solid” Q4 that was much better than expectations, an algorithm change at an advertising partner has caused significant disruption, causing Q1 revenue to trend down 30% year-over-year and keeping management from guiding for this year, adds the analyst, who sees a lack of visibility limiting upside to the stock.