Onestream (NASDAQ:OS) Earns Outperform Rating from Analysts at Wedbush

Wedbush assumed coverage on shares of Onestream (NASDAQ:OS) in a report published on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $40.00 price target on the stock.

Several other equities analysts have also recently commented on OS. The Goldman Sachs Group assumed coverage on Onestream in a research report on Wednesday, December 11th. They set a “buy” rating and a $37.00 target price for the company. Piper Sandler lifted their price target on Onestream from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Needham & Company LLC lifted their price target on Onestream from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Truist Financial reaffirmed a “buy” rating and set a $37.00 price target (up previously from $35.00) on shares of Onestream in a research note on Wednesday, September 4th. Finally, Raymond James upped their target price on Onestream from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.83.

Onestream Stock Performance

Shares of NASDAQ OS traded down $0.02 during mid-day trading on Thursday, hitting $29.60. The company had a trading volume of 431,263 shares, compared to its average volume of 851,939. Onestream has a 1 year low of $24.50 and a 1 year high of $35.39. The business’s 50-day simple moving average is $30.85.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. sold 6,376,411 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $29.99, for a total transaction of $191,228,565.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William A. Koefoed sold 13,765 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $30.00, for a total transaction of $412,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,699,787 shares of company stock worth $230,912,230.

Institutional Trading of Onestream

Hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. purchased a new position in shares of Onestream during the 3rd quarter worth approximately $27,000. Point72 Asset Management L.P. acquired a new stake in Onestream during the 3rd quarter worth approximately $77,000. RiverPark Advisors LLC acquired a new stake in Onestream during the 3rd quarter worth approximately $92,000. HighTower Advisors LLC acquired a new stake in Onestream during the 3rd quarter worth approximately $222,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Onestream during the 3rd quarter worth approximately $325,000.

About Onestream

OneStream, Inc develops corporate performance management software solutions primarily to perform financial statement consolidation and planning and budgeting. Its solutions include financial close and consolidation that streamlines financial processes with capabilities designed to automate tasks and manage the complexity and standards of financial reporting and consolidation; financial and operational planning and analysis that enables financial and operational planning, budgeting, forecasting, and results analysis for individual business functions and the synchronization of plans across the entire organization; and financial and operational reporting that provides end-to-end visibility of analytics and key metrics to various stakeholders, including executives, Finance professionals, line-of-business leaders, and other business partners.