Ooma Inc. (OOMA) Raised to Hold at Zacks Investment Research
Ooma Inc. (NYSE:OOMA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Ooma, Inc. provides communications solutions and other connected services to small business, home and mobile users. The Company’s products include Ooma Office for small businesses, Business Promoter, Ooma Telo for home, Ooma end-point devices, Ooma Premier Service for Telo, Talkatone Application as well as caller identification, call-waiting and voice mail services. Ooma, Inc. is based in Palo Alto, United States. “
Other equities analysts also recently issued research reports about the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Ooma in a report on Tuesday, May 31st. Bank of America Corp. reiterated a “buy” rating and issued a $12.00 target price on shares of Ooma in a report on Wednesday, August 31st. Finally, JMP Securities upped their target price on Ooma from $12.00 to $14.00 and gave the company a “market outperform” rating in a report on Wednesday, August 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $12.15.
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Ooma (NYSE:OOMA) opened at 9.06 on Wednesday. Ooma has a 12 month low of $5.43 and a 12 month high of $9.92. The firm’s 50-day moving average is $8.72 and its 200-day moving average is $7.57. The firm’s market capitalization is $157.67 million.
Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, August 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $25.50 million for the quarter, compared to the consensus estimate of $25.21 million. Ooma had a negative return on equity of 32.89% and a negative net margin of 14.33%. The company’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts expect that Ooma will post ($0.22) EPS for the current year.
In other Ooma news, VP Spencer D. Jackson sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $7.96, for a total transaction of $51,740.00. Following the completion of the sale, the vice president now owns 108,500 shares of the company’s stock, valued at $863,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James A. Gustke sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $8.46, for a total value of $50,760.00. Following the sale, the vice president now directly owns 229,074 shares of the company’s stock, valued at approximately $1,937,966.04. The disclosure for this sale can be found here. 48.19% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in shares of Ooma by 46.2% in the second quarter. BlackRock Fund Advisors now owns 22,626 shares of the company’s stock worth $185,000 after buying an additional 7,150 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ooma during the first quarter worth about $261,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Ooma during the first quarter worth about $473,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Ooma by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 58,723 shares of the company’s stock worth $481,000 after buying an additional 3,707 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Ooma during the second quarter worth about $779,000. 22.99% of the stock is owned by hedge funds and other institutional investors.
Ooma Company Profile
Ooma, Inc is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices.
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