Barclays analyst Lauren Lieberman lowered the price target on Oddity Tech Ltd (NASDAQ: ODD) to $8.00 (from $13.00) while maintaining a Underweight rating.

The analyst comments "With 1Q results, we have yet to hear anything that would make us change our Underweight thesis. Management provided a few more specific data points that help inform our quarterly estimates (as discussed in the body of this note). Importantly, Oddity continues to believe its recent issues are not suggestive of a brand issue but rather that the fixes are more technical in nature vis a vis its customer acquisition model. That said, even if we assume Oddity can rectify its position with its largest advertising partner's algorithm, we expect the build back to a +20% top-line growth rate will be a costly one given the lower contribution from repeat revenue after this year's shortfall in recruitment."