Bank of America Issues Positive Forecast for Onestream (NASDAQ:OS) Stock Price

Onestream (NASDAQ:OS) had its price target hoisted by Bank of America from $29.00 to $33.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 16.40% from the stock’s current price.

OS has been the subject of a number of other reports. Morgan Stanley decreased their target price on Onestream from $34.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Citigroup decreased their price objective on Onestream from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BNP Paribas initiated coverage on Onestream in a report on Tuesday, April 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Wedbush decreased their price objective on Onestream from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, BMO Capital Markets decreased their price objective on Onestream from $38.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Onestream currently has an average rating of “Moderate Buy” and a consensus price target of $32.10.

Onestream Stock Down 0.2%

Shares of Onestream stock opened at $28.35 on Wednesday. Onestream has a one year low of $16.69 and a one year high of $35.39. The business has a 50-day simple moving average of $21.74 and a 200 day simple moving average of $26.32.

Onestream (NASDAQ:OS) last issued its earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $136.31 million during the quarter, compared to the consensus estimate of $131.08 million. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. Research analysts anticipate that Onestream will post 0.05 EPS for the current year.

Insider Activity

In related news, Director John Kinzer sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $20.28, for a total value of $811,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William A. Koefoed sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $25.04, for a total value of $250,400.00. The disclosure for this sale can be found here. 12.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onestream

Several institutional investors have recently made changes to their positions in OS. T. Rowe Price Investment Management Inc. lifted its position in shares of Onestream by 136.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,937,682 shares of the company’s stock worth $190,731,000 after acquiring an additional 5,152,719 shares in the last quarter. Norges Bank purchased a new stake in shares of Onestream in the fourth quarter worth $119,214,000. Champlain Investment Partners LLC purchased a new stake in shares of Onestream in the fourth quarter worth $98,076,000. Brown Advisory Inc. raised its position in shares of Onestream by 16,651.6% in the first quarter. Brown Advisory Inc. now owns 2,444,897 shares of the company’s stock worth $52,174,000 after buying an additional 2,430,302 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Onestream by 53.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,378,130 shares of the company’s stock worth $136,109,000 after buying an additional 2,234,980 shares in the last quarter.

Onestream Company Profile

OneStream, Inc is a holding company, which engages in the development of an artificial intelligence (AI) based enterprise finance platform. The firm offers Digital Finance Cloud, an AI-enabled and extensible software platform that unifies core financial functions and operational data and processes. The company was founded by Craig Colby and Thomas Shea on October 15, 2021 and is headquartered in Birmingham, MI.