Ouster's (OUST) "Buy" Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed a “Buy” rating on Ouster and set a $53 price target, implying approximately 45% upside from the reported $36.55 share price. Analysts overall rate the stock “Moderate Buy,” with a consensus target of $54.67.
• Ouster’s shares rose 1.9% during Thursday trading, but the company’s latest quarterly results missed EPS expectations: a $0.26 loss per share versus the anticipated $0.12 loss. Revenue of $54.63 million exceeded estimates of $51.47 million.
• Insiders sold $6.74 million worth of shares over the past 90 days, while institutional ownership stands at 31.45%; California State Teachers Retirement System significantly increased its stake during the second quarter.

Ouster (NASDAQ:OUST - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $53.00 price objective on the stock. Rosenblatt Securities' price target points to a potential upside of 45.00% from the company's current price.

OUST has been the topic of a number of other reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Northland Securities set a $60.00 price target on shares of Ouster and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Roth Capital assumed coverage on shares of Ouster in a report on Friday, May 29th. They issued a "buy" rating and a $75.00 price target on the stock. Oppenheimer reiterated an "outperform" rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Finally, Citigroup reissued an "outperform" rating on shares of Ouster in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.67.

Ouster Trading Up 1.9%

NASDAQ:OUST traded up $0.68 during trading hours on Thursday, hitting $36.55. 1,812,054 shares of the company were exchanged, compared to its average volume of 3,248,263. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -42.50 and a beta of 3.24. Ouster has a one year low of $16.40 and a one year high of $63.79. The company has a fifty day simple moving average of $42.70 and a 200 day simple moving average of $32.42.

Ouster (NASDAQ:OUST - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.14). The firm had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. Equities research analysts predict that Ouster will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Ouster

In other news, CFO Kenneth P. Gianella sold 54,337 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the transaction, the chief financial officer owned 301,014 shares of the company's stock, valued at approximately $11,685,363.48. The trade was a 15.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Angus Pacala sold 29,797 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, the chief executive officer directly owned 1,072,201 shares of the company's stock, valued at approximately $41,622,842.82. This represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,829 shares of company stock valued at $6,736,649 over the last 90 days. Insiders own 5.72% of the company's stock.

Institutional Investors Weigh In On Ouster

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in shares of Ouster by 6,016.8% in the 2nd quarter. California State Teachers Retirement System now owns 4,856,804 shares of the company's stock worth $303,647,000 after buying an additional 4,777,403 shares during the last quarter. Geode Capital Management LLC raised its stake in Ouster by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company's stock valued at $30,758,000 after buying an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC boosted its holdings in Ouster by 24.1% in the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company's stock worth $16,817,000 after acquiring an additional 150,337 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company's stock worth $15,479,000 after acquiring an additional 405,441 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company's stock worth $13,863,000 after acquiring an additional 536,413 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors.

Ouster Company Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.

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