Ouster, Inc. (NASDAQ:OUST) Stock Has Consensus Price Target of $58.00

Key Points

• Analyst sentiment is mostly positive: Seven analysts give Ouster a consensus “Moderate Buy” rating, with six buys and one sell; the average 12-month price target is $58.
• Quarterly results were mixed: Ouster reported revenue of $59.33 million, above expectations of $56.30 million, but its loss per share of $0.20 was wider than the $0.08 loss analysts expected.
• Insiders sold shares: Company insiders sold 138,037 shares worth about $5.14 million in the last quarter, while institutional investors and hedge funds own 31.45% of the stock.

Shares of Ouster, Inc. (NASDAQ:OUST - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $58.00.

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Ouster from a "neutral" rating to an "overweight" rating and set a $45.00 target price on the stock in a report on Wednesday, November 4th. Oppenheimer reiterated an "outperform" rating on shares of Ouster in a report on Wednesday. Citigroup reissued an "outperform" rating on shares of Ouster in a research report on Tuesday, July 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $53.00 target price on shares of Ouster in a research report on Wednesday, November 4th.

Insider Buying and Selling at Ouster

In other Ouster news, General Counsel Megan Chung sold 11,484 shares of the company's stock in a transaction that occurred 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 transaction, the general counsel owned 189,291 shares in the company, valued at $6,428,322.36. This represents a 5.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Pacala sold 30,385 shares of the company's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $1,031,874.60. Following the completion of the transaction, the chief executive officer owned 1,041,816 shares of the company's stock, valued at approximately $35,380,071.36. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 138,037 shares of company stock worth $5,142,537. Insiders own 5.72% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Penn Capital Management Company LLC lifted its stake in shares of Ouster by 5.2% in the third quarter. Penn Capital Management Company LLC now owns 689,989 shares of the company's stock worth $27,885,000 after acquiring an additional 33,901 shares in the last quarter. Baird Financial Group Inc. bought a new position in Ouster during the 2nd quarter valued at $25,218,000. Aberdeen Group plc bought a new position in Ouster during the 3rd quarter valued at $16,777,000. Wellington Management Group LLP acquired a new position in Ouster in the second quarter worth about $15,384,000. Finally, Bank of New York Mellon Corp acquired a new position in Ouster in the second quarter worth about $11,192,000. 31.45% of the stock is owned by institutional investors and hedge funds.

Ouster Stock Performance

NASDAQ OUST opened at $34.79 on Monday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -50.42 and a beta of 3.47. Ouster has a one year low of $16.40 and a one year high of $63.79. The company's 50 day moving average price is $35.36 and its 200 day moving average price is $32.54.

Ouster (NASDAQ:OUST - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The business had revenue of $59.33 million for the quarter, compared to analysts' expectations of $56.30 million. Sell-side analysts forecast that Ouster will post -0.97 EPS for the current fiscal year.

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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