Ooma, Inc. (NYSE:OOMA) Receives Average Rating of “Buy” from Analysts

Shares of Ooma, Inc. (NYSE:OOMA) have been given a consensus rating of “Buy” by the five brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $28.17.

A number of research firms recently issued reports on OOMA. Zacks Investment Research downgraded shares of Ooma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 4th. Benchmark raised 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. B. Riley boosted their price target on Ooma from $24.00 to $27.50 and gave the company a “buy” rating in a report on Friday, September 3rd. Finally, JMP Securities lifted their target price on shares of Ooma from $22.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, September 3rd.

In other Ooma 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 9.90% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in OOMA. Bank of New York Mellon Corp boosted its holdings in Ooma by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 100,168 shares of the technology company’s stock worth $1,865,000 after buying an additional 3,948 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Ooma by 390.8% in the third quarter. BNP Paribas Arbitrage SA now owns 3,951 shares of the technology company’s stock valued at $74,000 after acquiring an additional 3,146 shares in the last quarter. UBS Group AG increased its position in shares of Ooma by 11.2% during the third quarter. UBS Group AG now owns 9,111 shares of the technology company’s stock worth $169,000 after purchasing an additional 921 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Ooma by 15.6% during the third quarter. Wellington Management Group LLP now owns 773,274 shares of the technology company’s stock worth $14,391,000 after purchasing an additional 104,326 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Ooma by 4.2% in the 3rd quarter. Millennium Management LLC now owns 67,594 shares of the technology company’s stock valued at $1,258,000 after purchasing an additional 2,715 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

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

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

About Ooma

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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