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The most recent trading session ended with Ouster, Inc. (OUST) standing at $9.96, reflecting a +0.81% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.51% for the day. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Coming into today, shares of the company had lost 20% in the past month. In that same time, the Computer and Technology sector gained 0.79%, while the S&P 500 gained 2.87%.
Analysts and investors alike will be keeping a close eye on the performance of Ouster, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.23, marking a 75.79% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $30 million, up 22.75% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Ouster, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 a 64.79% decrease. Currently, Ouster, Inc. is carrying 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 175, positioning it in the bottom 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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