Owlet Inc reports results for the quarter ended March 31 - Earnings Summary

• Owlet Inc OWLT.N reported a quarterly adjusted loss of 7 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -39 cents. The mean expectation of three analysts for the quarter was for a loss of 27 cents per share. Wall Street expected results to range from -34 cents to -21 cents per share.

• Revenue rose 43.1% to $21.10 million from a year ago; analysts expected $18.14 million.

• Owlet Inc's reported EPS for the quarter was 11 cents​.

• The company reported quarterly net income of $1.7 million.

• Owlet Inc shares had risen by 12.6% this quarter and lost 6.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 47.4% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the advanced medical equipment & technology peer group is also "buy"

• Wall Street's median 12-month price target for Owlet Inc is $8.50

This summary was machine generated from LSEG data May 8 at 09:52 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)