Why Ouster, Inc. (OUST) Dipped More Than Broader Market Today

In the latest market close, Ouster, Inc. (OUST) reached $6.97, with a -1.83% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.56%.The the stock of company has risen by 17.16% in the past month, leading the Computer and Technology sector's gain of 2.83% and the S&P 500's gain of 1.83%.The investment community will be closely monitoring the performance of Ouster, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2024.Investors might also notice recent changes to analyst estimates for Ouster, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ouster, Inc. currently has a Zacks Rank of #3 (Hold).The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ouster, Inc. (OUST): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks