Shares of Ooma Inc (NYSE:OOMA) have been assigned an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $15.50.
Several research firms have issued reports on OOMA. Credit Suisse Group began coverage on Ooma in a research note on Friday, August 10th. They issued a “neutral” rating and a $13.00 target price on the stock. ValuEngine upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Finally, B. Riley lifted their target price on Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd.
OOMA opened at $13.90 on Wednesday. Ooma has a 1 year low of $9.00 and a 1 year high of $17.50. The stock has a market capitalization of $325.36 million, a price-to-earnings ratio of -20.14 and a beta of 0.88.
Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, August 28th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Ooma had a negative return on equity of 35.06% and a negative net margin of 11.35%. The company had revenue of $31.68 million for the quarter, compared to analyst estimates of $30.88 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts expect that Ooma will post -0.75 EPS for the current fiscal year.
In other news, CEO Eric B. Stang sold 12,252 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $15.91, for a total transaction of $194,929.32. Following the sale, the chief executive officer now owns 372,500 shares in the company, valued at $5,926,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric B. Stang sold 19,030 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $15.82, for a total value of $301,054.60. Following the sale, the chief executive officer now owns 372,500 shares in the company, valued at approximately $5,892,950. The disclosure for this sale can be found here. Insiders have sold 41,315 shares of company stock worth $659,373 in the last 90 days. Insiders own 10.47% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in Ooma by 42.7% in the second quarter. BlackRock Inc. now owns 1,253,817 shares of the technology company’s stock valued at $17,742,000 after buying an additional 375,221 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Ooma by 978.6% in the first quarter. JPMorgan Chase & Co. now owns 254,189 shares of the technology company’s stock valued at $2,771,000 after buying an additional 230,622 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Ooma by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 943,102 shares of the technology company’s stock valued at $10,279,000 after buying an additional 99,432 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ooma by 6.6% in the second quarter. Renaissance Technologies LLC now owns 1,030,600 shares of the technology company’s stock valued at $14,583,000 after buying an additional 63,600 shares during the last quarter. Finally, Perkins Capital Management Inc. purchased a new stake in Ooma in the second quarter valued at approximately $826,000. Institutional investors and hedge funds own 74.51% of the company’s stock.
Ooma Company Profile
Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.
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