Ooma, Inc. (OOMA) Receives Average Recommendation of “Hold” from Analysts

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.00.

A number of analysts have commented on the company. B. Riley reiterated a “buy” rating and issued a $15.50 price objective on shares of Ooma in a research report on Thursday, May 18th. William Blair downgraded Ooma from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 24th. Bank of America Corporation downgraded Ooma from a “buy” rating to an “underperform” rating in a research report on Wednesday, May 24th. Credit Suisse Group downgraded Ooma from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $12.00 in a research report on Wednesday, May 24th. Finally, ValuEngine downgraded Ooma from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th.

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Shares of Ooma (NYSE:OOMA) traded down 0.904% during mid-day trading on Tuesday, reaching $8.225. 11,490 shares of the company traded hands. The firm’s 50 day moving average price is $10.05 and its 200-day moving average price is $9.90. Ooma has a 52-week low of $7.67 and a 52-week high of $12.30. The company’s market capitalization is $150.30 million.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 23rd. The technology company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. Ooma had a negative return on equity of 29.82% and a negative net margin of 11.51%. The company had revenue of $27.58 million during the quarter, compared to the consensus estimate of $28.14 million. During the same quarter last year, the company earned ($0.08) EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts predict that Ooma will post ($0.11) earnings per share for the current fiscal year.

In other Ooma news, major shareholder Equity I. L.L.C. Worldview sold 144,027 shares of Ooma stock in a transaction on Friday, March 24th. The stock was sold at an average price of $9.77, for a total value of $1,407,143.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.42% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Ooma by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 34,966 shares of the technology company’s stock valued at $348,000 after buying an additional 12,923 shares during the period. FNY Partners Fund LP purchased a new stake in Ooma during the first quarter valued at approximately $129,000. Credit Suisse AG boosted its stake in Ooma by 4.7% in the first quarter. Credit Suisse AG now owns 120,696 shares of the technology company’s stock valued at $1,201,000 after buying an additional 5,445 shares during the period. Park West Asset Management LLC boosted its stake in Ooma by 163.1% in the first quarter. Park West Asset Management LLC now owns 700,078 shares of the technology company’s stock valued at $6,966,000 after buying an additional 434,017 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Ooma by 112.2% in the first quarter. Renaissance Technologies LLC now owns 780,000 shares of the technology company’s stock valued at $7,761,000 after buying an additional 412,500 shares during the period. 73.82% of the stock is owned by institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “OOMA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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