Ouster (NASDAQ:OUST) Stock Keeps Buy Rating at Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated its Buy rating on Ouster and set a $53 price target, implying 82.88% upside from the previous close. Analysts’ consensus rating is “Moderate Buy,” with an average target of $56.67.
• Ouster’s latest quarterly revenue was $59.33 million, above estimates of $56.30 million, but its $0.20-per-share loss was wider than the expected $0.08 loss.
• Analyst views are mostly positive, including Oppenheimer’s Outperform reaffirmation and Cantor Fitzgerald’s upgrade to Overweight, though Weiss Ratings maintained a Sell rating.

Ouster (NASDAQ:OUST - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Rosenblatt Securities in a report released on Wednesday, Benzinga reports. They currently have a $53.00 target price on the stock. Rosenblatt Securities's target price indicates a potential upside of 82.88% from the stock's previous close.

OUST has been the subject of a number of other reports. Oppenheimer reiterated an "outperform" rating on shares of Ouster in a research report on Wednesday. Citigroup reaffirmed an "outperform" rating on shares of Ouster in a research note on Tuesday, July 21st. Cantor Fitzgerald upgraded shares of Ouster from a "neutral" rating to an "overweight" rating and set a $45.00 price objective for the company in a research report on Wednesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a research report on Wednesday, August 12th. Finally, Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Ouster currently has an average rating of "Moderate Buy" and a consensus price target of $56.67.

Ouster Trading Up 2.7%

NASDAQ:OUST opened at $28.98 on Wednesday. The business's 50-day moving average is $35.56 and its 200 day moving average is $32.43. Ouster has a 12 month low of $16.40 and a 12 month high of $63.79. The company has a market capitalization of $2.09 billion, a P/E ratio of -33.70 and a beta of 3.47.

Ouster (NASDAQ:OUST - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The firm had revenue of $59.33 million for the quarter, compared to analysts' expectations of $56.30 million. On average, research analysts forecast that Ouster will post -1.07 earnings per share for the current year.

Insider Activity

In related news, CEO Charles Pacala sold 30,385 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $1,031,874.60. Following the sale, the chief executive officer owned 1,041,816 shares in the company, valued at approximately $35,380,071.36. This represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Megan Chung sold 11,484 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $389,996.64. Following the completion of the sale, the general counsel owned 189,291 shares of the company's stock, valued at approximately $6,428,322.36. This represents a 5.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 141,651 shares of company stock worth $5,305,817. Company insiders own 5.72% of the company's stock.

Hedge Funds Weigh In On Ouster

A number of large investors have recently made changes to their positions in OUST. Parallel Advisors LLC increased its stake in Ouster by 66.2% in the 3rd quarter. Parallel Advisors LLC now owns 866 shares of the company's stock worth $35,000 after buying an additional 345 shares during the period. Farther Finance Advisors LLC lifted its holdings in Ouster by 83.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 895 shares of the company's stock valued at $36,000 after buying an additional 407 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Ouster in the 2nd quarter valued at about $74,000. Allworth Financial LP grew its stake in Ouster by 40.3% in the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company's stock worth $74,000 after acquiring an additional 342 shares in the last quarter. Finally, MCF Advisors LLC grew its stake in Ouster by 34.4% in the 2nd quarter. MCF Advisors LLC now owns 1,344 shares of the company's stock worth $84,000 after acquiring an additional 344 shares in the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster News Summary

Here are the key news stories impacting Ouster this week:

• Positive Sentiment: Analyst upgrade: Cantor Fitzgerald raised Ouster from “neutral” to “overweight,” potentially supporting investor confidence. Cantor Fitzgerald rating information
• Positive Sentiment: Revenue and shipments grew: Q3 revenue was $59.33 million, above the $56.30 million analyst estimate and up about 50% year over year; Ouster also reported more than 27,000 sensor shipments, a record. A report cited gross margin rising to 49%. Ouster Q3 results Revenue and shipment report
• Positive Sentiment: Forward outlook: Ouster expects Q4 revenue of $61 million to $64 million and plans to scale REV8 production toward annual capacity of 100,000 units by the end of 2027. Q4 outlook and REV8 capacity plans
• Negative Sentiment: Loss per share missed one consensus estimate: Ouster reported a Q3 loss of $0.20 per share, compared with an estimate of a $0.08 loss, despite beating revenue expectations. Ouster earnings report
• Negative Sentiment: Recent price weakness: One report noted OUST had fallen 34% in a month, reflecting recent investor pressure and potentially adding volatility. Analysis of Ouster’s recent decline

Ouster Company Profile

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company's products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.

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