Oddity Tech (ODD) Approves $200M Share Buyback Program

Oddity Tech Ltd. (NASDAQ:ODD) is among the 10 Best New AI Stocks to Buy.

On March 12, Oddity Tech Ltd. (NASDAQ:ODD) announced that its Board of Directors has approved a share buyback program authorizing the repurchase of a maximum of $200 million of the Company’s Class A ordinary shares, subject to market conditions, legal and regulatory constraints, the terms of the Buyback Plan, and other strategic priorities. The Buyback Plan replaces and supersedes the Company’s previously announced $150 million share buyback plan. The Buyback Plan will expire on March 31, 2029, or once the allocated funds have been fully deployed, subject to any future modifications by the Board.

On February 26, Evercore ISI analyst Mark Mahaney downgraded Oddity Tech Ltd. (NASDAQ:ODD) to In Line from Outperform and sharply reduced the price target to $23 from $80. While the analyst acknowledged that the stock’s decline following a “surprising” fourth-quarter report appeared steep, concerns around advertising concentration and limited visibility into future growth were cited as key risks.

Oddity Tech Ltd. (NASDAQ:ODD) operates as a consumer technology company focused on artificial intelligence-driven beauty and wellness products. The company leverages data science to identify consumer needs and develop personalized solutions through its online platform, serving customers globally following its 2023 IPO.

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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