Ouster (NASDAQ:OUST) Receives "Buy" Rating from Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated a “Buy” rating on Ouster and set a $53 price target, implying approximately 16.28% upside from the stock’s $45.58 opening price.
• Analyst sentiment remains positive overall, with six Buy ratings, two Holds and one Sell; MarketBeat lists a consensus “Moderate Buy” rating and a $54.67 average price target.
• Ouster’s latest quarter included a wider-than-expected loss of $0.26 per share, although revenue of $54.63 million exceeded estimates. Insiders have sold roughly 739,754 shares worth $28.7 million over the past 90 days.

Ouster (NASDAQ:OUST - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Rosenblatt Securities in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $53.00 price target on the stock. Rosenblatt Securities' target price indicates a potential upside of 16.28% from the company's current price.

Several other research analysts have also recently weighed in on OUST. Cantor Fitzgerald cut shares of Ouster from an "overweight" rating to a "neutral" rating in a report on Thursday, May 7th. Oppenheimer restated an "outperform" rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Citigroup reaffirmed an "outperform" rating on shares of Ouster in a research report on Tuesday, July 21st. Northland Securities set a $60.00 target price on Ouster and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings assumed coverage on Ouster in a report on Friday, May 15th. They set a "sell (d-)" rating for the company. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.67.

Ouster Price Performance

OUST stock opened at $45.58 on Friday. Ouster has a one year low of $16.40 and a one year high of $63.79. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -46.99 and a beta of 3.24. The company has a fifty day moving average price of $42.85 and a two-hundred day moving average price of $30.56.

Ouster (NASDAQ:OUST - Get Free Report) last posted its 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 company had revenue of $54.63 million for the quarter, compared to analyst estimates of $51.47 million. Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%. Research analysts anticipate that Ouster will post -1.03 EPS for the current fiscal year.

Insider Activity

In other Ouster news, CRO Cyrille Jacquemet sold 10,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. Following the transaction, the executive directly owned 132,590 shares of the company's stock, valued at $4,640,650. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Darien Spencer sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief operating officer owned 342,366 shares of the company's stock, valued at $15,406,470. The trade was a 8.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 739,754 shares of company stock worth $28,702,157. Insiders own 5.72% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock worth $97,000 after purchasing an additional 525 shares during the last quarter. Main Management ETF Advisors LLC increased its holdings in Ouster by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company's stock valued at $1,186,000 after purchasing an additional 560 shares during the period. Corient Private Wealth LLC raised its position in Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company's stock worth $280,000 after purchasing an additional 599 shares during the last quarter. Prosperity Wealth Management Inc. lifted its holdings in Ouster by 5.5% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company's stock worth $352,000 after buying an additional 675 shares during the period. Finally, Creative Planning lifted its holdings in Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company's stock worth $1,182,000 after buying an additional 677 shares during the period. 31.45% of the stock is owned by institutional investors.

About Ouster

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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