Breaking News: Citi Analysts Provide Neutral Rating for OneStream Inc. (NASDAQ: OS) with $34.00 Price Target
In a recent development, Citi has initiated coverage of OneStream Inc. (NASDAQ: OS) with a neutral rating and a price target of $34.00. The firm recognizes OneStream as a major player in the CFO's office platform space, emphasizing its strong foundation in financial consolidation and expanding role in artificial intelligence.
OneStream operates within the $7 billion Enterprise Performance Management (EPM) market, leveraging its data capabilities to capture various use cases and achieving an impressive Net Revenue Retention (NRR) rate of 118%. However, Citi's stance is influenced by the stock's significant appreciation since its IPO, with a current high valuation compared to peers.
Despite the positive aspects of OneStream's business, the neutral rating reflects a balanced view of risk and reward, suggesting that the stock price adequately reflects its prospects. Citi remains open to becoming more bullish on the stock in the event of a price pullback, citing key factors like a compelling repeat founder story and ramping AI initiatives.
In other news, BTIG and Baird have also initiated coverage on OneStream Inc., with BTIG rating the stock as Buy with a $37.00 price target, and Baird rating it as 'Outperform' with a $32.00 price target. These developments highlight OneStream's leading position in the Office of the CFO software market.
InvestingPro Insights:
- OneStream's market capitalization is $6.62 billion, indicating its significant presence in the EPM market.
- The company is not profitable over the last twelve months, with a negative P/E ratio of -212.64.
- OneStream has demonstrated strong revenue growth, with a quarterly increase of 39.93% as of Q1 2024.
- The stock generally trades with low price volatility, appealing to investors seeking stable equity performance.
For more in-depth analysis and investment opportunities, visit InvestingPro for additional insights on OneStream's financials and market prospects. Make informed decisions to secure your financial future!
This article, powered by AI and reviewed by an editor, provides essential information for investors looking to navigate the ever-changing financial landscape.