Andrew Brackmann, an analyst from William Blair, has initiated a new Buy rating on Owlet (OWLT).
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight Owlet’s potential as a leading pediatric health platform. The company’s ecosystem, which includes FDA-cleared products like the Dream Sock monitor and Owlet360 subscription, offers personalized insights into a baby’s health and development. This foundation, coupled with opportunities to expand into toddler support and healthcare settings, positions Owlet for significant growth.
Brackmann’s analysis also considers Owlet’s strong financial outlook, with expected revenue growth exceeding 20% in the coming years. Despite the stock’s impressive rise of 207% year-to-date, its valuation remains attractive compared to peers, trading at a lower multiple of forward sales. Furthermore, Owlet has successfully navigated past regulatory and financial hurdles, enhancing investor confidence through improved execution and profitability. The potential for international expansion and increased insurance reimbursement further supports the Buy rating, as these factors are not yet fully reflected in the current share price.
In another report released on December 4, Northland Securities also maintained a Buy rating on the stock with a $15.50 price target.