Ouster Inc (NYSE: OUST) Stock: Does It Have More Upside?

In the last trading session, 3.17 million shares of the Ouster Inc (NYSE:OUST) were traded, and its beta was 2.51. Most recently the company’s share price was $9.97, and it changed around $0.11 or 1.12% from the last close, which brings the market valuation of the company to $405.48M. OUST currently trades at a discount to its 52-week high of $10.00, offering almost -0.3% off that amount. The share price’s 52-week low was $3.21, which indicates that the current value has risen by an impressive 67.8% since then. We note from Ouster Inc’s average daily trading volume that its 10-day average is 2.93 million shares, with the 3-month average coming to 1.04 million.

Ouster Inc (NYSE:OUST) trade information

Instantly OUST has showed a green trend with a performance of 1.12% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 29.99% year-to-date, but still up 99.80% over the last five days. On the other hand, Ouster Inc (NYSE:OUST) is 79.32% up in the 30-day period. We can see from the shorts that 4.4 million shares have been sold at a short interest cover period of 7.29 day(s).

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The consensus price target as assigned by Wall Street analysts is $11, which translates to bulls needing to increase their stock price by 9.36% from its current value. Analyst projections state that OUST is forecast to be at a low of $10 and a high of $12.

Ouster Inc (OUST) estimates and forecasts

Ouster Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 97.82 percent over the past six months and at a 41.94% annual growth rate that is well above the industry average of 0.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 87.10% in revenue this quarter, and will report an increase of 75.20% in the next quarter. The year-over-year growth rate is expected to be 37.90%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $25.77 million in revenue for the current quarter. 5 analysts expect Ouster Inc to make $26.72 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $17.23 million and $19.4 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 49.60%. Forecasts for the next quarter put sales growth at 37.80%.

Ouster Inc earnings are expected to increase by 47.24% in 2024, but the outlook is positive 20.00% per year for the next five years.

OUST Dividends

Ouster Inc’s next quarterly earnings report is expected to be released on March 26.

Ouster Inc (NYSE:OUST)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 14.75% of Ouster Inc shares, and 30.74% of them are in the hands of institutional investors. The stock currently has a share float of 36.06%. Ouster Inc stock is held by 137 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 4.80% of the shares, which is about 1.9 million shares worth $9.36 million.

Tao Capital Management, LP, with 2.85% or 1.13 million shares worth $5.56 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Information Technology Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.92 million shares worth $4.53 million, making up 2.32% of all outstanding shares. On the other hand, Vanguard Information Technology Index Fund held roughly 0.48 million shares worth around $3.25 million, which represents about 1.21% of the total shares outstanding.