Ooma, Inc. (NYSE:OOMA) Given Average Recommendation of “Buy” by Analysts

Ooma, Inc. (NYSE:OOMA) has been assigned an average recommendation of “Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.17.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Ooma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 4th. B. Riley upped their price target on Ooma from $24.00 to $27.50 and gave the company a “buy” rating in a research report on Friday, September 3rd. Benchmark lifted their target price on Ooma from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. Finally, JMP Securities upped their price target on Ooma from $22.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, September 3rd.

In other news, VP Jenny C. Yeh sold 3,817 shares of the stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $22.04, for a total transaction of $84,126.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Ooma by 1.6% in the 3rd quarter. BlackRock Inc. now owns 1,776,147 shares of the technology company’s stock worth $33,052,000 after acquiring an additional 28,180 shares in the last quarter. Trigran Investments Inc. increased its stake in shares of Ooma by 10.9% during the third quarter. Trigran Investments Inc. now owns 1,749,974 shares of the technology company’s stock valued at $32,567,000 after purchasing an additional 171,797 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Ooma by 22.1% during the second quarter. Renaissance Technologies LLC now owns 1,177,703 shares of the technology company’s stock valued at $22,211,000 after purchasing an additional 213,100 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Ooma by 48.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 957,137 shares of the technology company’s stock worth $18,052,000 after purchasing an additional 312,916 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Ooma by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 773,274 shares of the technology company’s stock worth $14,391,000 after buying an additional 104,326 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE OOMA traded down $0.09 during mid-day trading on Thursday, hitting $20.35. 44,363 shares of the stock traded hands, compared to its average volume of 128,558. The company has a market cap of $478.23 million, a PE ratio of -185.00 and a beta of 0.50. Ooma has a twelve month low of $13.32 and a twelve month high of $24.89. The firm has a 50 day simple moving average of $20.46 and a two-hundred day simple moving average of $19.43.

Ooma (NYSE:OOMA) last posted its earnings results on Thursday, September 2nd. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Ooma had a negative return on equity of 2.50% and a negative net margin of 1.30%. The firm had revenue of $47.06 million during the quarter, compared to the consensus estimate of $46.36 million. During the same period last year, the company earned $0.13 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Ooma will post -0.11 EPS for the current year.

Ooma Company Profile

Ooma, Inc engages in the provision of platform for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications. Its products and services include Ooma business and Ooma residential.

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