Oddity Tech's Methodiq Telehealth Platform to be Key Driver for Stock Going Ahead, Morgan Stanley Says

MT Newswires Live
Nov 21

Oddity Tech's (ODD) potential success of the Methodiq app-based telehealth platform will be a key driver for the stock going ahead, Morgan Stanley analysts said in a Friday note.

Analysts said that while a challenging consumer environment has pressured beauty stocks and fears loom around a recent slowdown in Oddity Tech's US credit card data, the company posted "solid" Q3 upside and that its near-term delivery remains "impressive".

Oddity Tech reported Q3 adjusted earnings late Wednesday of $0.40 per diluted share, beating a FactSet analyst poll of $0.36. Revenue in the three months ended Sept. 30 was $147.9 million compared with a FactSet survey of $145.5 million.

Morgan Stanley lowered the stock's rating to $49 from $61 to reflect a more uncertain US environment. It retained an equalweight rating.

Price: 38.60, Change: -0.97, Percent Change: -2.45

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