Northland Securities set a $11.00 price objective on Ooma, Inc. (NYSE:OOMA) in a research report report published on Friday morning. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. Credit Suisse Group lowered shares of Ooma from an outperform rating to a neutral rating and decreased their price target for the company from $16.00 to $12.00 in a research note on Wednesday, May 24th. ValuEngine lowered shares of Ooma from a hold rating to a sell rating in a research note on Thursday, May 25th. Bank of America Corporation lowered shares of Ooma from a buy rating to an underperform rating in a research note on Wednesday, May 24th. William Blair lowered shares of Ooma from an outperform rating to a market perform rating in a research note on Wednesday, May 24th. Finally, B. Riley reaffirmed a buy rating and issued a $15.50 price target on shares of Ooma in a research note on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $12.40.

Shares of Ooma (NYSE OOMA) traded up 12.74% during trading on Friday, reaching $8.85. The company’s stock had a trading volume of 641,393 shares. The company’s market cap is $162.49 million. 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 of $8.15 and a 200 day moving average of $9.52.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.16. The company had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $27.72 million. Ooma had a negative net margin of 11.48% and a negative return on equity of 30.81%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, analysts anticipate that Ooma will post ($0.12) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OOMA. Credit Suisse AG raised its position in Ooma by 4.7% in the first quarter. Credit Suisse AG now owns 120,696 shares of the technology company’s stock worth $1,201,000 after buying an additional 5,445 shares during the period. Menta Capital LLC raised its position in Ooma by 58.3% in the second quarter. Menta Capital LLC now owns 19,345 shares of the technology company’s stock worth $155,000 after buying an additional 7,123 shares during the period. Spark Investment Management LLC raised its position in Ooma by 50.7% in the first quarter. Spark Investment Management LLC now owns 22,300 shares of the technology company’s stock worth $221,000 after buying an additional 7,500 shares during the period. GSA Capital Partners LLP raised its position in Ooma by 33.0% in the second quarter. GSA Capital Partners LLP now owns 30,600 shares of the technology company’s stock worth $245,000 after buying an additional 7,600 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Ooma by 86.9% in the first quarter. Bank of New York Mellon Corp now owns 19,150 shares of the technology company’s stock worth $191,000 after buying an additional 8,904 shares during the period. 70.13% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Ooma (NYSE:OOMA)

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