Ooma, Inc. (NYSE:OOMA) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Ooma, Inc. (NYSE:OOMA) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.50.
A number of analysts have weighed in on the stock. Credit Suisse Group cut shares of Ooma from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $12.00 in a research note on Wednesday, May 24th. Northland Securities started coverage on shares of Ooma in a research note on Tuesday, June 27th. They set an “outperform” rating and a $10.50 target price on the stock. Bank of America Corporation lowered shares of Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. ValuEngine lowered shares of Ooma from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Finally, William Blair lowered shares of Ooma from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 24th.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. raised its position in Ooma by 8.7% in the first quarter. Perkins Capital Management Inc. now owns 120,100 shares of the technology company’s stock valued at $1,195,000 after buying an additional 9,650 shares during the last quarter. Granite Investment Partners LLC purchased a new position in Ooma during the first quarter valued at about $1,697,000. Russell Investments Group Ltd. raised its position in Ooma by 215.1% in the first quarter. Russell Investments Group Ltd. now owns 424,805 shares of the technology company’s stock valued at $4,228,000 after buying an additional 289,990 shares during the last quarter. Falcon Point Capital LLC purchased a new position in Ooma during the first quarter valued at about $1,434,000. Finally, Boston Partners raised its position in Ooma by 45.3% in the first quarter. Boston Partners now owns 753,800 shares of the technology company’s stock valued at $7,500,000 after buying an additional 234,994 shares during the last quarter. Institutional investors and hedge funds own 71.45% of the company’s stock.
Ooma (OOMA) traded up 0.62% during midday trading on Friday, reaching $8.10. The company had a trading volume of 14,420 shares. Ooma has a one year low of $7.30 and a one year high of $12.30. The stock’s 50 day moving average is $8.19 and its 200 day moving average is $9.64. The company’s market capitalization is $148.01 million.
Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $27.58 million for the quarter, compared to analysts’ expectations of $28.14 million. Ooma had a negative net margin of 11.51% and a negative return on equity of 29.82%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. Equities research analysts forecast that Ooma will post ($0.12) earnings per share for the current fiscal year.
Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.
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