FMP
Oddity Tech Shares Surge 22% Following Stock Buyback Approval and Raised Q2 Guidance
Jun 7, 2024 4:58 PM - Davit Kirakosyan
Image credit: FMP
Shares of Oddity Tech (NASDAQ:ODD) soared by over 22% intra-day today following the company's announcement of a new stock buyback plan and an upward revision of its second-quarter forecasts. The company approved a stock repurchase program valued at up to $150 million.
In addition, Oddity Tech increased its outlook for the second quarter. The company now anticipates Q2 adjusted earnings per share (EPS) to be around 69 cents, up from the previous estimate of 56 cents. Net revenue for the quarter is expected to be approximately $189 million, up from the prior forecast range of $185 million to $189 million.
The company also projects adjusted EBITDA to be about $60 million, higher than the previously estimated range of $53 million to $56 million, and expects a gross margin of around 71%.
Other Blogs
Jul 10, 2024 2:34 AM - Parth Sanghvi
Capital Budgeting Techniques: NPV, IRR, and More - A Comprehensive Guide
Capital budgeting is a critical financial process that companies use to evaluate and select long-term investments or projects. It involves assessing potential expenditures and determining their profitability to ensure that resources are allocated effectively. This comprehensive guide covers essentia...
Aug 7, 2024 3:53 AM - Parth Sanghvi
The Impact of Interest Rates on the Economy and Financial Markets: A Comprehensive Analysis
Interest rates play a crucial role in the economy and financial markets, influencing everything from consumer behavior to investment decisions. Understanding their impact is essential for making informed financial and investment decisions. This comprehensive analysis delves into how interest rates a...
Sep 10, 2024 7:33 AM - Parth Sanghvi
Best Alternatives to Yahoo Finance for Downloading Historical Stock Data
When it comes to downloading historical stock data, Yahoo Finance has been a popular choice for many. However, for those looking for more comprehensive, accurate, and flexible options, Financial Modeling Prep (FMP) offers a suite of powerful tools and services that stand out as superior alternatives...
