FY2024 EPS Estimates for Ouster Lifted by Cantor Fitzgerald

Ouster, Inc. (NYSE:OUST) – Analysts at Cantor Fitzgerald increased their FY2024 earnings estimates for Ouster in a report issued on Monday, November 11th. Cantor Fitzgerald analyst A. Sheppard now expects that the company will post earnings of ($2.20) per share for the year, up from their previous forecast of ($2.40). Cantor Fitzgerald has a “Overweight” rating and a $10.00 price target on the stock. The consensus estimate for Ouster’s current full-year earnings is ($2.20) per share.

Several other analysts have also weighed in on OUST. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th. Westpark Capital reiterated a “buy” rating and set a $17.00 price objective on shares of Ouster in a report on Monday, August 12th. Finally, Craig Hallum reduced their target price on Ouster from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ouster presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Ouster Stock Performance

Shares of OUST stock opened at $8.44 on Thursday. The company has a market cap of $407.91 million, a P/E ratio of -3.28 and a beta of 2.34. Ouster has a fifty-two week low of $4.65 and a fifty-two week high of $16.88. The stock has a 50 day simple moving average of $7.09 and a two-hundred day simple moving average of $9.47.

Ouster (NYSE:OUST) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.53) earnings per share (EPS) for the quarter. The business had revenue of $26.99 million during the quarter. Ouster had a negative net margin of 106.50% and a negative return on equity of 65.17%.

Institutional Investors Weigh In On Ouster

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Ouster in the 2nd quarter valued at $27,000. Van ECK Associates Corp raised its holdings in shares of Ouster by 28.4% in the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock valued at $46,000 after purchasing an additional 1,608 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Ouster during the third quarter valued at about $67,000. True North Advisors LLC purchased a new position in Ouster during the third quarter worth about $78,000. Finally, Lake Street Advisors Group LLC bought a new stake in Ouster in the 1st quarter worth about $79,000. 31.45% of the stock is owned by institutional investors.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.