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, with an outperform rating. He has projected an $80 price target for the stock, which gives an upside of nearly 126%.
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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 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 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.
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This article is originally published at Insider Monkey.
