Cantor maintains $14 target for Ouster.
investing.com
<<On Monday, Cantor Fitzgerald reaffirmed a positive stance on Ouster Inc. (NASDAQ: OUST), a company specializing in LIDAR technology, maintaining an Overweight rating and a $14.00 price target. Trading at $10.62, the stock has shown significant momentum with a 33% gain in the past week. According to InvestingPro data, analyst targets range from $11 to $17, suggesting potential upside. The firm’s analyst highlighted Ouster’s unique product offerings and broad Total Addressable Market (TAM) applications as key advantages. The analyst expressed optimism about Ouster’s consistent gross margin improvements and the company’s target to achieve 35-40% gross margins within the next 12 months. InvestingPro data shows the company has already achieved a gross profit margin of 39.49% and demonstrated strong revenue growth of 28.04% over the last twelve months. Additionally, the anticipated annual revenue growth rate of 30-50% was seen as a sign of the company’s strong position in the industry.
Ouster’s recent performance has bolstered this confidence, with the company having shipped over 4,700 sensors in the first quarter and surpassing a total of 108,000 sensors shipped to date. This includes approximately 17,300 sensors in the fiscal year 2024 and around 13,500 sensors in the fiscal year 2023. The analyst noted that these figures reflect Ouster’s ability to scale and maintain a lead in revenue generation and margin performance compared to its peers in the LIDAR sector.
The report also drew attention to significant "multimillion dollar" contracts that Ouster disclosed it had secured in the first quarter. These awards are expected to further aid the company in scaling its operations. While the company maintains strong financial health with a current ratio of 2.57 and more cash than debt on its balance sheet, InvestingPro analysis indicates the stock is currently undervalued based on its Fair Value model. The analyst’s reiteration of the Overweight rating and price target underscores a continued belief in Ouster’s growth trajectory and its competitive edge within the LIDAR industry. For deeper insights into Ouster’s valuation and growth prospects, access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.>> |
