Shares of Ooma, Inc. (NYSE:OOMA) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $12.38.
OOMA has been the subject of a number of recent analyst reports. Credit Suisse Group AG downgraded Ooma from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $12.00 in a report on Wednesday, May 24th. Northland Securities initiated coverage on Ooma in a report on Tuesday, June 27th. They issued an “outperform” rating and a $10.50 price objective for the company. Bank of America Corporation downgraded Ooma from a “buy” rating to an “underperform” rating in a report on Wednesday, May 24th. ValuEngine downgraded Ooma from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Finally, William Blair downgraded Ooma from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 24th.
Ooma (OOMA) traded down 1.15% on Monday, reaching $8.60. The company had a trading volume of 97,876 shares. The company’s 50 day moving average price is $8.20 and its 200-day moving average price is $9.74. The company’s market capitalization is $157.15 million. Ooma has a 12 month low of $7.55 and a 12 month high of $12.30.
Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the 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 business had revenue of $27.58 million for the quarter, compared to analyst estimates of $28.14 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Ooma will post ($0.12) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in OOMA. Russell Investments Group Ltd. acquired a new stake in shares of Ooma during the fourth quarter valued at about $1,186,000. Renaissance Technologies LLC increased its stake in shares of Ooma by 35.6% in the fourth quarter. Renaissance Technologies LLC now owns 367,500 shares of the technology company’s stock valued at $3,308,000 after buying an additional 96,500 shares during the period. Perkins Capital Management Inc. increased its stake in shares of Ooma by 8.7% in the first quarter. Perkins Capital Management Inc. now owns 120,100 shares of the technology company’s stock valued at $1,195,000 after buying an additional 9,650 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of Ooma during the first quarter valued at about $1,697,000. Finally, Falcon Point Capital LLC acquired a new stake in shares of Ooma during the first quarter valued at about $1,434,000. Institutional investors own 73.82% of the company’s stock.
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.
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