Analyst Owen Rickert from Northland Securities maintained a Buy rating on Owlet and keeping the price target at $12.00.
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Owen Rickert has given his Buy rating due to a combination of factors that highlight Owlet’s strong market position and growth potential. The recent FDA warning against unauthorized infant monitors underscores the competitive advantage of Owlet’s Dream Sock, which is the only over-the-counter FDA-approved infant monitoring device available. This regulatory approval not only differentiates Owlet’s product but also positions it as a safer and more reliable choice for consumers, potentially driving market share away from competitors.
Additionally, Owlet’s launch of new products, such as the HD video baby monitor Dream Sight and the next-generation Dream Duo, reflects the company’s commitment to innovation and market expansion. The strategic pricing of these products aims to increase hardware sales and attract more subscribers to the Owlet 360 platform, which offers additional features for a monthly fee. These developments suggest a promising outlook for Owlet, supporting the Buy rating given by Owen Rickert.
According to TipRanks, Rickert is ranked #5471 out of 9983 analysts.
In another report released on September 15, Lake Street also maintained a Buy rating on the stock with a $13.00 price target.