Ooma (OOMA) Receives Buy Rating from Northland Securities

Ooma (NYSE:OOMA)‘s stock had its “buy” rating restated by analysts at Northland Securities in a report issued on Friday. They currently have a $13.00 target price on the technology company’s stock. Northland Securities’ target price suggests a potential upside of 14.54% from the company’s current price.

Separately, B. Riley restated a “buy” rating and set a $13.00 price objective on shares of Ooma in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Ooma presently has an average rating of “Hold” and a consensus price target of $12.67.

Ooma (NYSE OOMA) traded up $0.30 during mid-day trading on Friday, reaching $11.35. The company’s stock had a trading volume of 89,370 shares, compared to its average volume of 141,919. Ooma has a 52 week low of $7.30 and a 52 week high of $12.30.

Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Ooma had a negative return on equity of 32.00% and a negative net margin of 11.65%. The company had revenue of $28.50 million for the quarter, compared to the consensus estimate of $28.04 million. During the same period in the previous year, the business earned ($0.02) EPS. Ooma’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts anticipate that Ooma will post -0.75 earnings per share for the current fiscal year.

In other news, Director Russell Mann sold 32,500 shares of Ooma stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $10.46, for a total value of $339,950.00. Following the completion of the transaction, the director now owns 81,279 shares in the company, valued at approximately $850,178.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James A. Gustke sold 5,000 shares of Ooma stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $9.81, for a total value of $49,050.00. Following the completion of the transaction, the vice president now owns 196,333 shares of the company’s stock, valued at approximately $1,926,026.73. The disclosure for this sale can be found here. Insiders have sold a total of 66,371 shares of company stock worth $671,551 over the last 90 days. 11.42% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. grew its position in shares of Ooma by 6.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,550,700 shares of the technology company’s stock worth $16,360,000 after acquiring an additional 91,700 shares in the last quarter. AWM Investment Company Inc. boosted its position in Ooma by 20.7% during the 2nd quarter. AWM Investment Company Inc. now owns 1,343,950 shares of the technology company’s stock valued at $10,752,000 after purchasing an additional 230,872 shares during the period. Boston Partners boosted its position in Ooma by 6.6% during the 3rd quarter. Boston Partners now owns 947,540 shares of the technology company’s stock valued at $9,996,000 after purchasing an additional 58,450 shares during the period. Vanguard Group Inc. boosted its position in Ooma by 26.1% during the 2nd quarter. Vanguard Group Inc. now owns 575,883 shares of the technology company’s stock valued at $4,607,000 after purchasing an additional 119,049 shares during the period. Finally, Royce & Associates LP boosted its position in Ooma by 13.7% during the 3rd quarter. Royce & Associates LP now owns 568,728 shares of the technology company’s stock valued at $6,000,000 after purchasing an additional 68,380 shares during the period. Institutional investors own 75.14% of the company’s stock.

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About Ooma

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.

Analyst Recommendations for Ooma (NYSE:OOMA)

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