Chris Quintero, an analyst from Morgan Stanley, reiterated the Buy rating on Onestream, Inc. Class A. The associated price target remains the same with $27.00.
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Chris Quintero’s rating is based on OneStream, Inc.’s impressive financial performance and strategic positioning. The company reported a 20% year-over-year increase in total revenue for Q3, surpassing expectations and demonstrating resilience amid concerns about growth deceleration and Federal exposure. Notably, subscription revenue grew by 27% year-over-year, and international revenue accelerated to 37% year-over-year, highlighting the company’s expanding global footprint.
Looking ahead, OneStream has raised its FY25 revenue guidance to 22% year-over-year growth, reflecting management’s confidence in the company’s strong sales pipeline and close rates. The company’s ability to replace legacy systems, capture new mid-market customers, and leverage its robust AI offerings positions it well for sustained high-teens growth. These factors, combined with the positive momentum in the healthcare sector, underpin Quintero’s Buy rating for OneStream, Inc.
In another report released today, Needham also reiterated a Buy rating on the stock with a $38.00 price target.