ODDITY Tech (NASDAQ:ODD) dropped in pre-market trading after announcing its fourth-quarter results. The consumer tech company generated Q4 revenues of $97 million, an increase of 44% year-over-year. The company reported adjusted diluted earnings of $0.17 per share compared to $0.01 in the same period last year. This exceeded estimates of $0.09 per share.
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ODDITY’s adjusted EBITDA skyrocketed by 520% year-over-year to $16.3 million in the fourth quarter. In addition, the number of platform users crossed above 50 million.
For the upcoming quarter, the company has projected revenues to be between $204 million and $207 million and expects adjusted diluted EPS in the range of $0.47 to $0.50. For FY24, ODDITY expects revenues in the range of $620 million to $630 million, with adjusted earnings likely to be between $1.49 and $1.54 per share.
Is ODDITY Stock a Good Buy?
Analysts remain bullish about ODD stock with a Strong Buy consensus rating based on three Buys and one Hold. Over the past year, ODD has slid by more than 8%, and the average ODD price target of $48.55 implies an upside potential of 5.8% at current levels. However, it’s worth noting that estimates will likely change following today’s earnings report.
