Why ODDITY Tech Shares Are Jumping Today
Portfolio Pulse from Lekha Gupta
ODDITY Tech Ltd. (NASDAQ:ODD) shares are surging after the company approved a $150 million share buyback and raised its second-quarter guidance. The company now expects Q2 revenue of ~$189 million and adjusted EPS of ~$0.69, both above previous estimates.
June 07, 2024 | 2:46 pm
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POSITIVE IMPACT
ODDITY Tech Ltd. shares are up 19.7% following the approval of a $150 million share buyback and an increase in second-quarter guidance. The company now expects Q2 revenue of ~$189 million and adjusted EPS of ~$0.69, both above previous estimates.
The approval of a significant share buyback program and the upward revision of Q2 guidance are strong positive signals for investors. The buyback indicates confidence in the company's financial health, while the improved guidance suggests better-than-expected performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100