Northland Securities Reiterates “Buy” Rating for Ooma (OOMA)
Ooma (NYSE:OOMA)‘s stock had its “buy” rating restated by equities research analysts at Northland Securities in a note issued to investors on Friday. They currently have a $13.00 price target on the technology company’s stock. Northland Securities’ target price suggests a potential upside of 14.54% from the stock’s current price.
Separately, B. Riley reaffirmed a “buy” rating and set a $13.00 price target on shares of Ooma in a research note on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Ooma has a consensus rating of “Hold” and a consensus price target of $12.67.
Ooma (NYSE:OOMA) opened at $11.35 on Friday. Ooma has a 12 month low of $7.30 and a 12 month high of $12.30.
Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. Ooma had a negative net margin of 11.65% and a negative return on equity of 32.00%. The business had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $28.04 million. During the same period in the prior year, the company posted ($0.02) EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts forecast that Ooma will post -0.69 earnings per share for the current fiscal year.
In other news, Director Russell Mann sold 32,500 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $10.46, for a total transaction of $339,950.00. Following the transaction, the director now directly 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 at this hyperlink. Also, VP James A. Gustke sold 5,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $9.81, for a total transaction of $49,050.00. Following the transaction, the vice president now owns 196,333 shares in the company, valued at $1,926,026.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,371 shares of company stock worth $671,551. 48.19% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Wolverine Trading LLC purchased a new position in shares of Ooma during the 3rd quarter worth about $115,000. Rhumbline Advisers acquired a new stake in Ooma during the 2nd quarter worth approximately $128,000. New York State Common Retirement Fund acquired a new stake in Ooma during the 2nd quarter worth approximately $144,000. Menta Capital LLC increased its position in Ooma by 58.3% during the 2nd quarter. Menta Capital LLC now owns 19,345 shares of the technology company’s stock worth $155,000 after purchasing an additional 7,123 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ooma during the 2nd quarter worth approximately $186,000. Institutional investors and hedge funds own 75.14% of the company’s stock.
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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