OneStream price target lowered to $28 from $34 at Piper Sandler

Piper Sandler lowered the firm’s price target on OneStream (OS) to $28 from $34 and keeps an Overweight rating on the shares. The firm notes Q2 revenue was strong driven by improving U.S. contribution where growth reaccelerated back to 22%, contributing to a $6.6M top-line beat on 26% year-over-year overall growth. However, the company tempered the Q3 growth outlook to 14.6% that was below Piper’s prior Q3 estimate of 16.7%.