Why Ouster Stock Is Climbing Higher Today
Portfolio Pulse from Erica Kollmann
Ouster, Inc. (NYSE:OUST) reported better-than-expected Q2 financial results and issued Q3 revenue guidance, leading to a rise in its stock price. The company reported a 10% decrease in losses and an 87.78% increase in sales year-over-year. Ouster also issued a Q3 revenue guidance of between $20 million and $22 million. Rosenblatt analyst Kevin Cassidy reiterated a Buy rating and maintained a price target of $17.50 on OUST.
August 11, 2023 | 3:49 pm
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POSITIVE IMPACT
Ouster's better-than-expected Q2 results and positive Q3 revenue guidance have led to a rise in its stock price. The company's financial performance and the maintained Buy rating from Rosenblatt analyst could positively impact the stock in the short term.
Ouster's Q2 results exceeded expectations, with reduced losses and increased sales YoY. This positive financial performance, coupled with the Q3 revenue guidance and the maintained Buy rating from a Rosenblatt analyst, are likely to instill investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100