Ouster, Inc. (NASDAQ:OUST) Stock Has Average Price Target of $58.00 According to Brokerages

Ouster, Inc. (NASDAQ:OUST) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $58.00.

OUST has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Ouster in a research note on Tuesday. Northland Securities set a $60.00 price objective on Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Citigroup restated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $53.00 price objective on shares of Ouster in a research note on Wednesday, November 4th. Finally, Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Wednesday, November 4th.

Ouster Trading Down 8.5%

Ouster stock opened at $33.48 on Monday. The company’s 50-day moving average price is $35.61 and its two-hundred day moving average price is $32.83. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -48.52 and a beta of 3.47. Ouster has a 52 week low of $16.40 and a 52 week high of $63.79.

Ouster (NASDAQ:OUST) last announced 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 during the quarter, compared to analyst estimates of $56.30 million. Research analysts expect that Ouster will post -0.97 earnings per share for the current fiscal year.

More Ouster News

Investors following OUST have been watching these news items:

• Positive Sentiment: Indra selected Ouster’s sensors for a tolling deployment covering 3,300 lanes, a sizable application that could support demand for the company’s lidar technology. Indra Selects Ouster Oust Sensors for 3,300-Lane Tolling
• Positive Sentiment: A recent report highlighted Ouster’s 50% revenue growth and said its shares rose 17% in the week ended November 6, underscoring investor interest in its growth trajectory. Ouster Stock Surged 17% in the Week Ended November 6 as Revenue Jumped 50%
• Negative Sentiment: A Seeking Alpha analysis argued that, despite impressive growth, Ouster’s valuation does not yet justify a buy. That caution may weigh on sentiment toward the shares, particularly given the company’s ongoing losses. Ouster: Impressive Growth Still Doesn’t Justify A Buy

Insider Activity at Ouster

In other Ouster news, Director Stephen Skaggs sold 5,000 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. Following the completion of the sale, the director owned 56,415 shares in the company, valued at approximately $1,918,110. The trade was a 8.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Pacala sold 30,385 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 1,041,816 shares of the company’s stock, valued at $35,380,071.36. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 143,037 shares of company stock worth $5,312,537 over the last 90 days. Insiders own 5.72% of the company’s stock.

Institutional Trading of Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Ouster by 31.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $58,000 after acquiring an additional 341 shares in the last quarter. Allworth Financial LP boosted its position in shares of Ouster by 40.3% during the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company’s stock valued at $74,000 after acquiring an additional 342 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Ouster by 34.4% during the second quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock worth $84,000 after purchasing an additional 344 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Ouster by 66.2% during the third quarter. Parallel Advisors LLC now owns 866 shares of the company’s stock worth $35,000 after purchasing an additional 345 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Ouster by 2.4% in the second quarter. Arizona State Retirement System now owns 16,030 shares of the company’s stock worth $1,002,000 after purchasing an additional 373 shares during the last quarter. 31.45% of the stock is owned by institutional investors.

Ouster Company Profile

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.