Evercore ISI analyst Mark Mahaney initiated coverage of Oddity with an Outperform rating and $57 price target. Oddity is a disruptive direct to consumer Beauty & Personal Care company facing a $300B total addressable market, with very strong topline growth, a robust business model, a differentiated online-only strategy powered by AI-optimized product personalization, and the potential option value from two new brand launches expected in FY25, and future product innovations from Oddity Labs, the company’s biotech R&D center, the analyst tells investors in a research note. The firm’s proprietary 1,300-respondent survey suggests that Oddity brands have relatively high aided brand awareness and customer satisfaction, as well as very high subscription sign-up rates, with “impressively high” repeat purchase rates, and says that the firm’s analysis indicates that IL MAKIAGE is generating accelerating revenue growth in its oldest market.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ODD:
- Oddity 4.78M share Secondary priced at $43.50
- ODDITY Announces Pricing of Secondary Offering of Class A Ordinary Shares
- ODDITY Announces Secondary Offering of Class A Ordinary Shares
- Oddity announces offering of 4M Class A ordinary shares for holders
- Oddity price target raised to $58 from $55 at Truist