Oppenheimer Sticks to Its Buy Rating for Ouster (OUST)

In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Ouster, with a price target of $39.00. The company’s shares opened today at $37.99.

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Rusch covers the Technology sector, focusing on stocks such as Ouster, Enphase Energy, and SolarEdge Technologies. According to TipRanks, Rusch has an average return of 42.3% and a 49.40% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ouster with a $35.14 average price target.

Based on Ouster’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $35.05 million and a GAAP net loss of $20.61 million. In comparison, last year the company earned a revenue of $26.99 million and had a GAAP net loss of $23.87 million

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OUST in relation to earlier this year. Last month, Megan Chung, the GC & Secretary of OUST sold 17,183.00 shares for a total of $488,856.35.