Owlet Q2 revenue beats analyst estimates on subscription growth

The current average analyst rating on the shares is "buy", with 5 "strong buy" or "buy" recommendations, no "hold" ratings, and no "sell" or "strong sell" ratings.

The average consensus recommendation for the advanced medical equipment & technology peer group is "buy".

Wall Street's median 12-month price target for Owlet Inc is $13.50, about 149.1% above its August 10 closing price of $5.42.

• Subscription growth - The company said increased revenue from its Owlet360 subscription service was a key driver of higher gross margin and overall revenue.
• International momentum - Owlet cited standout international momentum as a contributor to topline growth.
• Favorable product mix - The company said improved gross margin was partly due to favorable product mix and fixed cost absorption.