Onestream (NASDAQ:OS) Shares Gap Down – Should You Sell?

Onestream, Inc. (NASDAQ:OS) shares gapped down before the market opened on Friday . The stock had previously closed at $33.43, but opened at $30.48. Onestream shares last traded at $31.74, with a volume of 156,503 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on OS. Scotiabank lifted their target price on Onestream from $34.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Friday. TD Cowen started coverage on Onestream in a research report on Monday, August 19th. They issued a “buy” rating and a $34.00 target price for the company. Needham & Company LLC upped their target price on shares of Onestream from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital started coverage on shares of Onestream in a research note on Monday, August 19th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Bank of America increased their price objective on shares of Onestream from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Onestream Price Performance

The stock’s 50-day simple moving average is $30.81.

Hedge Funds Weigh In On Onestream

A number of hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. bought a new position in shares of Onestream in the third quarter worth about $27,000. RiverPark Advisors LLC purchased a new position in Onestream in the 3rd quarter worth approximately $92,000. Precision Wealth Strategies LLC bought a new position in Onestream in the 3rd quarter worth approximately $338,000. Atria Investments Inc bought a new position in Onestream in the 3rd quarter worth approximately $425,000. Finally, US Bancorp DE purchased a new stake in Onestream during the 3rd quarter valued at approximately $569,000.

Onestream Company Profile

OneStream, Inc develops corporate performance management software solutions primarily to perform financial statement consolidation and planning and budgeting. Its solutions include financial close and consolidation that streamlines financial processes with capabilities designed to automate tasks and manage the complexity and standards of financial reporting and consolidation; financial and operational planning and analysis that enables financial and operational planning, budgeting, forecasting, and results analysis for individual business functions and the synchronization of plans across the entire organization; and financial and operational reporting that provides end-to-end visibility of analytics and key metrics to various stakeholders, including executives, Finance professionals, line-of-business leaders, and other business partners.