OneStream price target raised to $34 from $32 at Raymond James

Raymond James analyst Brian Peterson raised the firm’s price target on OneStream to $34 from $32 and keeps an Outperform rating on the shares. Given the pre-announced Q2 results during the IPO process, the firm did not see substantial upside to Q2 consensus, the analyst tells investors in a research note. Raymond James is encouraged by the sequential improvement in net adds, a large beachhead win in Europe and increasing momentum with Sensible ML. We ultimately believe that OneStream has a high level of visibility to displace legacy solutions in the office of the CFO, and left the call with increased conviction in platform extensibility.