OneStream (NASDAQ:OS) Shares Down 4.2% - Here's What Happened

Key Points

• OneStream's shares fell 4.2% on Monday, trading between $19.89 and $20.26 with a significant trading volume of 2,791,749 shares, up 87% from its average.
• Analysts have varying price targets for OneStream, with a consensus target of $30.81, and the stock receiving predominantly "buy" ratings; however, Mizuho recently lowered its price objective from $33.00 to $30.00.
• In its last quarterly report, OneStream reported earnings of $0.05 per share, exceeding expectations and showcasing a 25.6% year-over-year revenue increase, amounting to $147.59 million.

OneStream, Inc. (NASDAQ:OS - Get Free Report) dropped 4.2% on Monday . The company traded as low as $19.89 and last traded at $20.26. Approximately 2,791,749 shares were traded during trading, an increase of 87% from the average daily volume of 1,495,132 shares. The stock had previously closed at $21.15.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OS shares. Mizuho lowered their price objective on OneStream from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. BNP Paribas initiated coverage on OneStream in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $30.00 price target for the company. Bank of America increased their price objective on shares of OneStream from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. BMO Capital Markets dropped their target price on shares of OneStream from $33.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Raymond James Financial reduced their price target on shares of OneStream from $29.00 to $27.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, OneStream presently has an average rating of "Moderate Buy" and a consensus target price of $30.81.

OneStream Price Performance

The firm's 50-day moving average price is $25.36 and its 200-day moving average price is $24.49. The stock has a market cap of $4.91 billion and a P/E ratio of -13.57.

OneStream (NASDAQ:OS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. OneStream had a negative return on equity of 27.54% and a negative net margin of 45.07%. The business had revenue of $147.59 million for the quarter, compared to analysts' expectations of $141.10 million. The firm's revenue for the quarter was up 25.6% compared to the same quarter last year. Sell-side analysts expect that OneStream, Inc. will post 0.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Ken Hohenstein sold 20,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $25.12, for a total value of $502,400.00. Following the completion of the sale, the executive directly owned 1,003,163 shares of the company's stock, valued at $25,199,454.56. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Craig Colby sold 6,279 shares of OneStream stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $28.23, for a total transaction of $177,256.17. Following the transaction, the insider directly owned 212,885 shares in the company, valued at approximately $6,009,743.55. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 173,973 shares of company stock valued at $4,746,958 over the last quarter. Corporate insiders own 12.77% of the company's stock.

Institutional Investors Weigh In On OneStream

Several institutional investors and hedge funds have recently made changes to their positions in OS. State of Tennessee Department of Treasury acquired a new stake in shares of OneStream during the 2nd quarter worth approximately $212,000. Vident Advisory LLC purchased a new position in OneStream in the second quarter valued at $222,000. Voleon Capital Management LP increased its holdings in OneStream by 22.5% in the second quarter. Voleon Capital Management LP now owns 81,765 shares of the company's stock valued at $2,314,000 after buying an additional 15,012 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of OneStream in the second quarter worth about $35,882,000. Finally, Sculptor Capital LP purchased a new stake in shares of OneStream during the 2nd quarter worth about $9,905,000.

About OneStream

OneStream, Inc is a holding company, which engages in the development of an artificial intelligence (AI) based enterprise finance platform. The firm offers Digital Finance Cloud, an AI-enabled and extensible software platform that unifies core financial functions and operational data and processes. The company was founded by Craig Colby and Thomas Shea on October 15, 2021 and is headquartered in Birmingham, MI.

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