15 Best New Tech Stocks To Invest In

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7. OneStream Inc. (NASDAQ:OS)

Market Capitalization as of January 21: $5.9 billion

Number of Hedge Fund Holders: 24

OneStream Inc. (NASDAQ:OS) provides corporate performance management (CPM) software. Its solutions streamline financial processes. These include consolidation, planning, budgeting, and reporting, which enable businesses to gain valuable insights and make data-driven decisions.

On January 16, Morgan Stanley upgraded the company’s stock rating from Equal-weight to Overweight, with a new price target of $37. Morgan Stanley praised its business and management team, noting the company’s core data platform’s market potential and strong financials. OneStream Inc.’s (NASDAQ:OS) stock has been trading lower than its peers since its IPO. Morgan Stanley sees this as an opportunity for investors to buy into a top-tier platform at a reasonable price.

The upgrade is also supported by anticipated growth for OneStream Inc. (NASDAQ:OS) in 2025. This includes the demand for enterprise resource planning (ERP) software, the increased popularity of its SensibleML product (which uses AI for things like forecasting and budgeting), and the possibility of improving how it prices and packages offerings. It’s modernizing finance with its AI-powered cloud platform, which drove 39% subscription revenue growth in Q3 2024.

ClearBridge Mid Cap Growth Strategy participated in OneStream Inc.’s (NASDAQ:OS) IPO and mentioned its growth potential as a leading provider of back-office solutions for CFOs. Here’s what it said in its Q3 2024 investor letter:

“We are encouraged by the high proportion of positive returns on new ideas added over the last five quarters of elevated new idea generation, with solid contributions to overall performance despite their representing a modest portion of the Strategy’s assets.

We continued to deliver strong new idea generation, adding four new investments in the quarter: OneStream, Inc. (NASDAQ:OS) (through participating in its IPO), Abercombie & Fitch, Wintrust Financial, and FTAI Aviation.

OneStream is a horizontal software company focused on back-office solutions for the office of the CFO. With a largely organically built platform offering, selling to the enterprise and competing against a variety of entrenched legacy providers, OneStream offers best-in-class growth and ramping profitability.”

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