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Investing.com - Freedom Broker initiated coverage on Owlet Inc. (NYSE:OWLT) with a Buy rating and a price target of $11.00 on Monday. The stock, currently trading at $7.69, has shown strong momentum with a 76% return over the past year, according to InvestingPro data.
The research firm highlighted Owlet’s competitive advantage as the provider of "the first and only FDA-cleared infant health monitoring device" in the market.
Freedom Broker noted Owlet’s diversification strategy, which includes expanding its presence in U.S. and international markets, increasing participation in the healthcare channel, and advancing monetization of its Owlet360 platform.
The $11 price target was derived using an equal-weighted approach that combined a five-year discounted cash flow (DCF) model utilizing the free cash flow to the firm (FCFF) method.
The valuation also incorporated a relative valuation based on the next twelve months (NTM) enterprise value (EV)/Sales multiple, according to Freedom Broker’s analysis.
In other recent news, Owlet Inc. reported a strong financial performance for the first quarter of 2025, showcasing significant revenue growth and a positive net income. Although specific earnings per share forecasts were not provided, the company’s robust revenue figures and strategic operational improvements have contributed to positive market sentiment. Investors have responded optimistically to the report. The company’s shares showed an increase in aftermarket trading. These developments highlight the company’s focus on enhancing its financial health and operational efficiency. There have been no recent analyst upgrades or downgrades reported for Owlet Inc. at this time.
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