Analyst Charles Rhyee from TD Cowen reiterated a Buy rating on Owlet (OWLT – Research Report) and keeping the price target at $15.00.
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Charles Rhyee has given his Buy rating due to a combination of factors including Owlet’s impressive financial performance in the first quarter, where both revenue and adjusted EBITDA significantly surpassed expectations. The company’s strategic partnerships, particularly with healthcare providers, are seen as a positive move that enhances brand credibility and market reach.
Additionally, Owlet’s international revenue growth and the successful launch of the Owlet360 subscription service have contributed to the optimistic outlook. Despite concerns about potential challenges such as tariff impacts and consumer spending, management’s proactive steps, like moving manufacturing out of China, and the raised revenue guidance for 2025 indicate a strong growth trajectory. These elements collectively support the Buy rating and the $15 price target maintained by Rhyee.
In another report released on May 9, Northland Securities also maintained a Buy rating on the stock with a $7.50 price target.