Ouster, Inc. (OUST) closed at $40.00 in the latest trading session, marking a -2.2% move from the prior day. This change lagged the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
Heading into today, shares of the company had gained 18.76% over the past month, outpacing the Computer and Technology sector's gain of 3.58% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of Ouster, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.3, signifying a 18.92% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $56.2 million, indicating a 42.17% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.05 per share and revenue of $222.1 million, indicating changes of +1.87% and +31.12%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Ouster, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ouster, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ouster, Inc. (OUST): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).