Ooma, Inc. (OOMA) Receives Consensus Rating of “Hold” from Brokerages
Ooma, Inc. (NYSE:OOMA) has received an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.50.
A number of research analysts recently issued reports on OOMA shares. Northland Securities started coverage on shares of Ooma in a research report on Tuesday, June 27th. They set an “outperform” rating and a $10.50 price target for the company. B. Riley reissued a “buy” rating and set a $13.00 price target on shares of Ooma in a research report on Sunday, May 28th. Credit Suisse Group cut shares of Ooma from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $12.00 in a research report on Wednesday, May 24th. Bank of America Corporation cut shares of Ooma from a “buy” rating to an “underperform” rating in a research report on Wednesday, May 24th. Finally, ValuEngine cut shares of Ooma from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Granite Investment Partners LLC purchased a new position in shares of Ooma during the first quarter valued at about $1,697,000. Oxford Asset Management boosted its position in shares of Ooma by 848.3% in the first quarter. Oxford Asset Management now owns 123,871 shares of the technology company’s stock valued at $1,233,000 after buying an additional 110,809 shares during the period. B. Riley Financial Inc. purchased a new position in shares of Ooma during the first quarter valued at about $520,000. TFS Capital LLC purchased a new position in shares of Ooma during the first quarter valued at about $768,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Ooma during the first quarter valued at about $3,510,000. 71.45% of the stock is owned by institutional investors and hedge funds.
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Shares of Ooma (OOMA) traded up 0.62% during trading on Friday, hitting $8.10. 14,420 shares of the stock traded hands. Ooma has a 12 month low of $7.30 and a 12 month high of $12.30. The company has a 50 day moving average price of $8.19 and a 200 day moving average price of $9.64. The firm’s market cap is $148.01 million.
Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, May 23rd. The technology company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Ooma had a negative net margin of 11.51% and a negative return on equity of 29.82%. The firm had revenue of $27.58 million during the quarter, compared to analysts’ expectations of $28.14 million. During the same period last year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Ooma will post ($0.12) earnings per share for the current fiscal year.
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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