Ouster, Inc. (NASDAQ:OUST) Stock Has Average Target Price of $54.67

Shares of Ouster, Inc. (NASDAQ:OUST) have earned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $54.67.

A number of equities analysts have recently issued reports on OUST shares. Oppenheimer reiterated an “outperform” rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Citigroup reissued an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Rosenblatt Securities restated a “buy” rating and set a $53.00 target price on shares of Ouster in a report on Thursday, August 27th. Finally, Northland Securities set a $60.00 target price on Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st.

Insiders Place Their Bets

In other news, CFO Kenneth Gianella sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $45.33, for a total value of $1,813,200.00. Following the completion of the transaction, the chief financial officer directly owned 261,014 shares of the company’s stock, valued at approximately $11,831,764.62. The trade was a 13.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mark Frichtl sold 18,778 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $637,700.88. Following the completion of the transaction, the chief technology officer directly owned 318,987 shares of the company’s stock, valued at approximately $10,832,798.52. The trade was a 5.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 173,037 shares of company stock worth $6,720,238. Insiders own 5.72% of the company’s stock.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently added to or reduced their stakes in OUST. Kings Path Partners LLC bought a new position in Ouster in the third quarter worth about $217,000. SteelPeak Wealth LLC purchased a new stake in shares of Ouster during the third quarter valued at about $227,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Ouster by 949.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 64,587 shares of the company’s stock valued at $2,642,000 after buying an additional 58,435 shares in the last quarter. GAMMA Investing LLC boosted 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 buying an additional 341 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Ouster by 83.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 895 shares of the company’s stock valued at $36,000 after buying an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Price Performance

Shares of Ouster stock opened at $30.31 on Thursday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -35.24 and a beta of 3.23. The firm’s 50-day moving average is $37.57 and its two-hundred day moving average is $37.14. Ouster has a 1 year low of $16.40 and a 1 year high of $63.79.

Ouster (NASDAQ:OUST) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The business had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. On average, equities analysts expect that Ouster will post -1.07 earnings per share for the current year.

Ouster Company Profile

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company’s products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.