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Ouster Rallies 77% YTD, Outperforms Industry: Time to Buy the Stock?

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Key Takeaways

  • OUST shares have jumped 77.1% YTD, outperforming its industry, sector, and the S&P 500 composite.
  • Ouster is targeting software-attached revenues, aiming for 30-50% annual growth and 35-40% gross margins.
  • Post-Velodyne merger, OUST posted 9 quarters of growth, and holds $171M in cash with no debt.

Shares of Ouster, Inc. (OUST - Free Report) have rallied 77.1% year to date, zooming past its industry, sector and the Zacks S&P 500 composite in the same time frame.

OUST is now trending above its 50-day simple moving average (SMA), indicating the possibility of upside ahead. 

Ouster, a physical AI company, offers solutions powered by digital LiDAR combined with AI software. The company believes its digital lidar sensors are one of the highest-performing, lowest-cost solutions available today and position it at the center of a global revolution in autonomy. OUST targets a total addressable market that is projected to reach $19 billion by 2030.

OUST vs Industry, Sector, S&P

Zacks Investment Research
Image Source: Zacks Investment Research

Shares of Aeva Technologies (AEVA - Free Report) , operating in the same space, have rallied 503.4% year to date, while those of Luminar Technologies (LAZR - Free Report) have lost 48.7%.

Aeva Technologies is broadening its reach beyond the automotive sector, advancing into industrial automation and intelligent transportation systems. Its noteworthy achievements include securing a speed enforcement contract in Australia and forming commercial partnerships with industry leaders such as SICK AG and Nikon. This strategic diversification enables AEVA to generate short-term revenues, balancing the typically lengthy cycle of automotive production contracts.

Luminar Technologies specializes in cutting-edge LiDAR sensors and software designed to enable safe and scalable autonomous driving. Its long-range, high-resolution systems are built for seamless integration into passenger and commercial vehicles, supporting leading automotive OEMs. The company is also expanding into full-stack autonomy and software solutions to accelerate adoption across the industry.

OUST is Expensive

OUST is currently expensive. It is trading at a price-to-sales multiple of 6.6, higher than the industry average of 1.5. 

Zacks Investment Research
Image Source: Zacks Investment Research

Shares of AEVA are trading at a premium to the industry, while those of LAZR are trading at a multiple lower than the industry.

The Case for OUST

Ouster is well-positioned to benefit from the accelerating adoption of LiDAR technology across automotive, industrial, robotics, and smart infrastructure sectors. For 2025, the company is prioritizing scaling up its software-attached offerings, revamping its product lineup, and driving toward profitability, with management projecting second-quarter revenues between $32 million and $35 million.

The 2023 merger with Velodyne significantly strengthened Ouster’s digital LiDAR portfolio, expanding its customer base and market reach while targeting over $75 million in annual cost synergies. This, in turn, helps Ouster maintain strong momentum, achieving nine straight quarters of revenue growth and surpassing 40% gross margins — evidence of increasing operational leverage.

Ouster aims to shift from a hardware-centric model to software-enabled solutions that deliver recurring revenues. Its Gemini perception platform and BlueCity analytics suite are designed to unlock new value from LiDAR data and deepen customer engagement. With its addressable market expected to reach $19 billion by 2030, Ouster’s upcoming Chronos chip is poised to lower costs and boost performance, accelerating adoption in large-scale applications.

It remains focused on achieving 30-50% annual revenue growth and maintaining gross margin in the range of 35-40%. Winning multi-million dollar deals across all four verticals to support the scaling of customers’ commercialization, expansion of relationship with LASE PeCo and signing the largest ever contract for software-attached sales in Europe should help it achieve its goals.  

Yet, Ouster faces challenges. The company is still operating at a loss and expects to continue burning cash through at least 2026, leaving it reliant on stronger sales performance or external financing to support its operations. Its return on invested capital has been in the red over time. Manufacturing concentration and new U.S. import tariffs pose risks of increased costs and potential supply chain disruptions.

Nonetheless, its balance sheet remains one of the strongest in the industry, with $171 million of cash and equivalents and no debt.

Optimistic Analyst Sentiment on OUST

The Zacks Consensus Estimate for 2025 and 2026 earnings has moved 12.1% and 14.3% north, respectively, in the past 60 days.

Zacks Investment Research
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Ouster’s 2025 earnings per share indicates an increase of 16.4% on 29.1% higher revenues.  The consensus estimate for 2026 earnings per share indicates a 24.1% increase on 47.3% higher revenues.  OUST has a Growth Score of A. 

Parting Thoughts on OUST Stock

Ouster holds promise. With a broad product lineup, strengthening margins, increasing potential for recurring revenues and expanding use cases, the company is well-positioned to benefit from the long-term growth of LiDAR adoption. If it can sustain its growth trajectory, manage costs effectively, and execute its transition to software-led solutions, Ouster could emerge as a key enabler in the evolution of automation and intelligent technologies.

Given growth prospects, price appreciation and optimistic analyst sentiment, this Zacks Rank #2 (Buy) stock is a strong contender for addition to one’s portfolio despite its premium valuation. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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Luminar Technologies, Inc. (LAZR) - free report >>

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