Ooma (OOMA) Rating Lowered to Buy at ValuEngine

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ValuEngine lowered shares of Ooma (NYSE:OOMA) from a strong-buy rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

Several other brokerages also recently issued reports on OOMA. Zacks Investment Research downgraded shares of Ooma from a hold rating to a sell rating in a report on Thursday, March 14th. B. Riley boosted their price objective on shares of Ooma from $20.00 to $20.50 and gave the company a buy rating in a research report on Wednesday, March 6th. JMP Securities reissued a buy rating and issued a $20.00 price objective on shares of Ooma in a research report on Wednesday, March 6th. Finally, Northland Securities reissued a buy rating and issued a $18.00 price objective on shares of Ooma in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $17.70.

Shares of NYSE OOMA opened at $11.87 on Thursday. Ooma has a 12-month low of $11.53 and a 12-month high of $17.50. The stock has a market capitalization of $244.83 million, a price-to-earnings ratio of -17.20 and a beta of 0.91.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, May 21st. The technology company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. Ooma had a negative net margin of 11.75% and a negative return on equity of 42.05%. The company had revenue of $34.01 million for the quarter, compared to the consensus estimate of $33.64 million. As a group, equities research analysts expect that Ooma will post -0.82 EPS for the current fiscal year.

In other news, CEO Eric B. Stang sold 12,340 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total value of $170,785.60. Following the completion of the transaction, the chief executive officer now owns 397,500 shares of the company’s stock, valued at $5,501,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 13,340 shares of company stock valued at $184,286. Company insiders own 10.19% of the company’s stock.

Large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of Ooma in the first quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its position in shares of Ooma by 385.7% in the fourth quarter. Meeder Asset Management Inc. now owns 2,147 shares of the technology company’s stock valued at $29,000 after buying an additional 1,705 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Ooma by 99,100.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,968 shares of the technology company’s stock valued at $53,000 after buying an additional 3,964 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Ooma by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock valued at $88,000 after buying an additional 4,960 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Ooma in the third quarter valued at approximately $168,000. 74.20% of the stock is owned by institutional investors and hedge funds.

About Ooma

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.

See Also: Diluted Earnings Per Share

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

Analyst Recommendations for Ooma (NYSE:OOMA)

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