Ooma, Inc. (OOMA) Earns Buy Rating from B. Riley
Ooma, Inc. (NYSE:OOMA)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research note issued on Saturday. They presently have a $13.00 price target on the technology company’s stock. B. Riley’s price target indicates a potential upside of 46.89% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Northland Securities set a $11.00 price target on Ooma and gave the stock a “buy” rating in a research note on Friday. ValuEngine cut Ooma from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. William Blair cut Ooma from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 24th. Bank of America Corporation downgraded Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. Finally, Credit Suisse Group downgraded Ooma from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $12.00 in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $12.40.
Shares of Ooma (NYSE:OOMA) traded up 12.74% during mid-day trading on Friday, hitting $8.85. 641,393 shares of the stock were exchanged. Ooma has a 12-month low of $7.30 and a 12-month high of $12.30. The stock’s market capitalization is $162.49 million. The stock’s 50 day moving average price is $8.15 and its 200-day moving average price is $9.52.
Ooma (NYSE:OOMA) last issued its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.16. The firm had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $27.72 million. Ooma had a negative return on equity of 30.81% and a negative net margin of 11.48%. Ooma’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, equities research analysts expect that Ooma will post ($0.12) EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in OOMA. California State Teachers Retirement System bought a new stake in Ooma during the second quarter valued at approximately $240,000. Arrowstreet Capital Limited Partnership bought a new stake in Ooma during the second quarter valued at approximately $195,000. Cubist Systematic Strategies LLC bought a new stake in Ooma during the second quarter valued at approximately $186,000. HCSF Management LLC bought a new stake in Ooma during the second quarter valued at approximately $2,938,000. Finally, State Street Corp increased its stake in Ooma by 1,184.9% in the second quarter. State Street Corp now owns 188,879 shares of the technology company’s stock valued at $1,511,000 after buying an additional 174,179 shares during the period. 70.13% of the stock is currently owned by institutional investors and hedge funds.
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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