Ooma, Inc. (OOMA) Given Average Recommendation of “Hold” by Brokerages
Shares of Ooma, Inc. (NYSE:OOMA) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.92.
Several equities analysts recently weighed in on the stock. B. Riley restated a “buy” rating and set a $13.00 price target on shares of Ooma in a research report on Friday, September 1st. Northland Securities reiterated a “buy” rating and set a $10.75 target price on shares of Ooma in a research report on Wednesday, October 4th.
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Shares of Ooma (NYSE OOMA) traded down 2.84% during mid-day trading on Wednesday, hitting $10.25. 6,498 shares of the company traded hands. Ooma has a one year low of $8.40 and a one year high of $12.30. The stock’s market capitalization is $189.34 million. The firm has a 50-day moving average of $10.28 and a 200-day moving average of $10.28.
Ooma (NYSE:OOMA) last posted 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 company had revenue of $28.20 million for the quarter, compared to the consensus estimate of $27.72 million. Ooma had a negative net margin of 11.48% and a negative return on equity of 30.96%. Ooma’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, equities analysts predict that Ooma will post ($0.10) earnings per share for the current year.
In related news, VP James A. Gustke sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $10.35, for a total value of $74,520.00. Following the sale, the vice president now directly owns 182,174 shares of the company’s stock, valued at $1,885,500.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Spencer D. Jackson sold 10,810 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $9.51, for a total transaction of $102,803.10. Following the completion of the sale, the vice president now directly owns 115,496 shares in the company, valued at $1,098,366.96. The disclosure for this sale can be found here. Insiders sold 66,371 shares of company stock valued at $671,551 over the last 90 days. 11.42% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in OOMA. Bank of New York Mellon Corp raised its stake in Ooma by 86.9% in the first quarter. Bank of New York Mellon Corp now owns 19,150 shares of the technology company’s stock valued at $191,000 after purchasing an additional 8,904 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Ooma during the first quarter worth approximately $754,000. Marshall Wace North America L.P. purchased a new position in shares of Ooma during the first quarter worth approximately $754,000. Menta Capital LLC purchased a new position in shares of Ooma during the first quarter worth approximately $122,000. Finally, Geode Capital Management LLC raised its stake in shares of Ooma by 118.5% during the first quarter. Geode Capital Management LLC now owns 105,441 shares of the technology company’s stock worth $1,049,000 after acquiring an additional 57,184 shares in the last quarter. 73.96% 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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