OneStream price target raised to $36 from $35 at BofA

BofA raised the firm’s price target on OneStream to $36 from $35 and keeps a Buy rating on the shares after the company reported “good” Q2 results during its first earnings call as a public company and gave Q3 and initial FY24 guidance for total revenue and non-GAAP operating income guidance comparable to the firm’s estimates. The firm, which believes the results are supportive of its bull thesis that OneStream is a share gainer in a $44B total addressable market, cites good execution and higher estimates for a raised target on the shares.