ODDITY Tech Ltd. (ODD) shares plummeted 5.21% in Friday's pre-market trading session following a series of price target cuts from major financial institutions. The beauty and wellness company faced a significant sell-off as investors reacted to the wave of analyst downgrades.

Morgan Stanley led the bearish sentiment by reducing its price target for ODDITY Tech from $61 to $49, while maintaining an Equalweight rating. Barclays followed suit, lowering its target from $64 to $46 and keeping an Equal Weight rating. JP Morgan also joined the trend, cutting its price target to $67 from $82. These actions signal growing concerns about the company's near-term growth prospects and valuation.

Despite the overall negative sentiment, Truist Securities provided a contrarian view by raising its price target to $80 from $78. However, this positive outlook was overshadowed by the multiple downgrades. The average price target for ODDITY Tech now stands at $66.45, according to analysts polled by FactSet, reflecting the mixed views on the company's future performance. As the market digests these conflicting signals, investors will be closely watching ODDITY Tech's upcoming financial results and strategic initiatives to gauge its potential for recovery.