Here is Why ODDITY Tech (ODD) is Highly Favored by Hedge Funds

ODDITY Tech (NASDAQ:ODD) is one of the most promising mid-cap consumer staples stocks under $100.

On December 19, Evercore ISI analyst Mark Mahaney reaffirmed his optimistic views on ODDITY Tech (NASDAQ:ODD), with an outperform rating. He has projected an $80 price target for the stock, which gives an upside of nearly 126%.

Mahaney mentioned that the stock’s valuation appears attractive and also acknowledged its latest skin care offering, METHODIQ. His analysis reveals a promising response for the new product, based on website visits and customer reviews. He believes that this product could deliver incremental revenues between $80 million and $200 million by 2028.

Mahaney also took notice of Oddity’s strong fundamental performance, characterized by financial discipline and customer retention. The company has delivered EBITDA margins of nearly 20% for 9 consecutive quarters, in addition to above 20% topline growth for 10 consecutive quarters.

Citizens also reiterated its bullish stance by assigning an outperform rating to ODDITY Tech (NASDAQ:ODD) on December 17. The firm estimated a 126% upside based on a price target of $80.

The firm also focused on a favorable market response for the new launch, METHODIQ. On a relative basis, METHODIQ has outperformed the SpoiledChild product at a comparable stage, which paves the way for further growth and cross-selling opportunities in the future.

ODDITY Tech (NASDAQ:ODD) is a consumer technology business that is disrupting the beauty and wellness industries through its AI-enabled platform. This platform leverages data science, machine learning, and biotechnology for developing digital-first brands such as SpoiledChild and IL MAKIAGE.

While we acknowledge the risk and potential of ODD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ODD and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.