Ooma (OOMA) Cut to “Sell” at ValuEngine

Ooma (NYSE:OOMA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday.

A number of other equities research analysts have also weighed in on the stock. Northland Securities reissued a “buy” rating and set a $13.00 target price on shares of Ooma in a report on Friday, December 1st. B. Riley reissued a “buy” rating and set a $13.00 target price on shares of Ooma in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Ooma presently has an average rating of “Hold” and an average target price of $12.67.

Shares of Ooma (OOMA) traded up $0.20 during trading on Wednesday, hitting $11.95. 71,626 shares of the company traded hands, compared to its average volume of 96,657. The company has a market cap of $226.89 and a price-to-earnings ratio of -16.83. Ooma has a 12 month low of $7.30 and a 12 month high of $12.75.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $28.50 million for the quarter, compared to analyst estimates of $28.04 million. Ooma had a negative net margin of 11.65% and a negative return on equity of 32.29%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. analysts expect that Ooma will post -0.7 EPS for the current fiscal year.

In other Ooma news, CFO Ravi Narula sold 3,535 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $42,420.00. Following the completion of the sale, the chief financial officer now owns 217,522 shares in the company, valued at approximately $2,610,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric B. Stang sold 10,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $11.22, for a total transaction of $112,200.00. Following the sale, the chief executive officer now owns 1,257,704 shares of the company’s stock, valued at approximately $14,111,438.88. The disclosure for this sale can be found here. Insiders sold a total of 46,625 shares of company stock worth $546,241 in the last 90 days. Corporate insiders own 11.42% of the company’s stock.

A number of hedge funds have recently made changes to their positions in OOMA. Menta Capital LLC grew its stake in shares of Ooma by 58.3% in the 2nd quarter. Menta Capital LLC now owns 19,345 shares of the technology company’s stock worth $155,000 after acquiring an additional 7,123 shares in the last quarter. GSA Capital Partners LLP grew its position in Ooma by 33.0% during the second quarter. GSA Capital Partners LLP now owns 30,600 shares of the technology company’s stock valued at $245,000 after buying an additional 7,600 shares during the period. Emancipation Management LLC grew its position in Ooma by 6.7% during the third quarter. Emancipation Management LLC now owns 171,892 shares of the technology company’s stock valued at $1,813,000 after buying an additional 10,832 shares during the period. Wolverine Trading LLC bought a new position in Ooma during the third quarter valued at about $115,000. Finally, Parametric Portfolio Associates LLC grew its position in Ooma by 94.2% during the second quarter. Parametric Portfolio Associates LLC now owns 24,092 shares of the technology company’s stock valued at $193,000 after buying an additional 11,686 shares during the period. Institutional investors and hedge funds own 72.32% of the company’s stock.

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Ooma Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ooma (NYSE:OOMA)

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