Shares of lidar sensors provider Ouster (NYSE:OUST) are rising today after the company announced preliminary revenue results for the fourth quarter.
The company expects revenue for the quarter at or above the midpoint of its earlier outlook of between $23 million and $25 million. Ouster’s sensors and software solutions cater to the automotive, industrial, robotics, and smart infrastructure industries.
Angus Pacala, the CEO of Ouster, noted that the company “Ended the year on a high note,” and momentum for its offerings remains strong. While Ouster’s top line has been steadily ticking higher over the past few years, the company has yet to churn out net profits.
Is OUST a Good Stock to Buy?
Still, its share price has gained nearly 28% over the past six months, and the Street sees a further 26.8% potential upside in the stock with an average OUST price target of $9. Overall, the consensus rating on Ouster remains a Moderate Buy. The stock is currently trading at a price-to-sales multiple of 6.84.
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