OneStream (OS) Soars 20% on Strong Q3, Bullish Rating

We recently published 10 Stocks Soaring Past Expectations. OneStream, Inc. (NASDAQ:OS) is one of the big names that led last week’s charge.

OneStream saw its share prices jump by 20.38 percent week-on-week as investors took heart from a stellar earnings performance and a bullish analyst coverage for its stock.

In an updated report late last week, OneStream, Inc. (NASDAQ:OS) said it trimmed its attributable net loss in the third quarter of the year by 95 percent to $8.85 million from the $171.94 million in the same period last year. Revenues increased by 19 percent to $154 million from $129 million year-on-year, with a strong international business—particularly due to strong legacy replacement momentum in Europe—contributing 34 percent of the total.

Following the results, OneStream, Inc. (NASDAQ:OS) raised its revenue growth outlook for the full-year period to a range of $594 million to $596 million from $586 million to $590 million expected earlier.

Image by MayoFi from Pixabay

Net income per share (EPS) is pegged at $0.15 to $0.19, higher than the $0.07 to $0.15 previously expected.

For the fourth quarter alone, OneStream, Inc. (NASDAQ:OS) targets revenues between $156 million and $158 million and EPS of $0.04 to $0.07.

In other developments, the company recently earned a “buy” recommendation and a price target of $38 from Needham & Company, marking a 67 percent upside potential from its latest closing price.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.