OneStream (NASDAQ:OS) Shares Gap Down After Analyst Downgrade

Key Points

• OneStream's shares gapped down before trading, falling from a previous close of $22.22 to an opening of $20.77 after Mizuho downgraded their price target from $33.00 to $30.00.
• The company currently holds a "Moderate Buy" rating with an average price target of $31.38, amidst various analyst ratings ranging from "neutral" to "buy."
• Major shareholders, including CFO William A. Koefoed, sold significant amounts of stock recently, indicating potential concerns about the company's outlook.

Shares of OneStream, Inc. (NASDAQ:OS - Get Free Report) gapped down prior to trading on Friday after Raymond James Financial lowered their price target on the stock from $29.00 to $27.00. The stock had previously closed at $22.22, but opened at $20.77. Raymond James Financial currently has an outperform rating on the stock. OneStream shares last traded at $19.93, with a volume of 642,117 shares changing hands.

Several other analysts have also recently commented on the stock. BMO Capital Markets decreased their price target on shares of OneStream from $33.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday. William Blair started coverage on shares of OneStream in a research note on Tuesday, May 20th. They issued an "outperform" rating on the stock. BNP Paribas started coverage on shares of OneStream in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $30.00 target price on the stock. Mizuho reduced their target price on shares of OneStream from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Stephens raised their target price on shares of OneStream from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.81.

Insider Activity at OneStream

In other news, CEO Thomas Anthony Shea sold 9,913 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $28.23, for a total value of $279,843.99. Following the completion of the sale, the chief executive officer owned 496,854 shares of the company's stock, valued at approximately $14,026,188.42. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William A. Koefoed sold 25,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the sale, the chief financial officer directly owned 237,839 shares of the company's stock, valued at approximately $5,945,975. The trade was a 9.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,973 shares of company stock valued at $5,300,358. Insiders own 12.77% of the company's stock.

Institutional Investors Weigh In On OneStream

Several institutional investors and hedge funds have recently bought and sold shares of OS. T. Rowe Price Investment Management Inc. raised its stake in OneStream by 136.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,937,682 shares of the company's stock worth $190,731,000 after acquiring an additional 5,152,719 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in OneStream during the 4th quarter valued at approximately $98,076,000. Temasek Holdings Private Ltd increased its position in OneStream by 2,206.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 2,956,360 shares of the company's stock valued at $63,089,000 after purchasing an additional 2,828,209 shares during the period. Alkeon Capital Management LLC bought a new position in shares of OneStream during the 1st quarter worth approximately $53,910,000. Finally, Brown Advisory Inc. boosted its holdings in shares of OneStream by 16,651.6% during the 1st quarter. Brown Advisory Inc. now owns 2,444,897 shares of the company's stock worth $52,174,000 after buying an additional 2,430,302 shares in the last quarter.

OneStream Stock Performance

The stock has a market capitalization of $4.77 billion and a P/E ratio of -13.40. The business has a fifty day simple moving average of $26.05 and a 200-day simple moving average of $24.76.

OneStream (NASDAQ:OS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. OneStream had a negative return on equity of 28.38% and a negative net margin of 45.07%. The company had revenue of $147.59 million for the quarter, compared to analysts' expectations of $141.10 million. The firm's quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts anticipate that OneStream, Inc. will post 0.05 earnings per share for the current year.

OneStream Company Profile

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.