ODDITY Tech Ltd. (ODD) stock experienced a significant 24-hour plunge of 5.02%, with the move occurring in the pre-market session.

The sharp decline follows a series of analyst downgrades that have shaken investor confidence. JPMorgan downgraded the stock to Neutral from Overweight and dramatically cut its price target to $16 from $59. Similarly, Needham downgraded ODDITY to Hold from Buy.

Needham's downgrade was attributed to uncertainty surrounding the company's advertising partners, despite noting that the firm "closed out FY25 strong." The substantial reduction in price targets and the shift to more cautious ratings from major financial institutions are the primary drivers behind the stock's sell-off.