Cantor Fitzgerald Forecasts Increased Earnings for Ouster

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

OUST has been the topic of several other reports. Craig Hallum lowered their target price on shares of Ouster from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Westpark Capital reiterated a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research report on Monday, August 12th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Ouster Stock Down 6.7 %

Ouster stock opened at $9.12 on Thursday. The stock has a market cap of $440.53 million, a P/E ratio of -3.55 and a beta of 2.34. The company’s 50 day moving average price is $6.99 and its two-hundred day moving average price is $9.48. Ouster has a 52 week low of $4.65 and a 52 week high of $16.88.

Ouster (NYSE:OUST) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.53) earnings per share 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

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Ouster by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 2,328,823 shares of the company’s stock worth $18,491,000 after purchasing an additional 164,360 shares during the period. Marshall Wace LLP grew its position in Ouster by 184.9% during the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock valued at $6,424,000 after buying an additional 424,178 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Ouster by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after purchasing an additional 34,743 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Ouster in the second quarter worth approximately $1,305,000. Finally, Renaissance Technologies LLC acquired a new position in Ouster during the second quarter worth about $1,217,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

About Ouster

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.