Ooma, Inc. (NYSE:OOMA) has been given a $11.00 target price by investment analysts at Northland Securities in a research note issued on Friday. The brokerage presently has a “buy” rating on the technology company’s stock. Northland Securities’ target price points to a potential upside of 24.29% from the company’s previous close.
OOMA has been the subject of several other reports. ValuEngine downgraded shares of Ooma from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. William Blair downgraded shares of Ooma from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 24th. B. Riley reiterated a “buy” rating and set a $15.50 price objective on shares of Ooma in a research note on Tuesday, May 23rd. Bank of America Corporation downgraded shares of Ooma from a “buy” rating to an “underperform” rating in a research note on Wednesday, May 24th. Finally, Credit Suisse Group downgraded shares of Ooma from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $12.00 in a research note on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.40.
Shares of Ooma (NYSE:OOMA) opened at 8.85 on Friday. Ooma has a 12 month low of $7.30 and a 12 month high of $12.30. The stock’s market capitalization is $161.72 million. The company’s 50 day moving average price is $8.15 and its 200-day moving average price is $9.52.
Ooma (NYSE:OOMA) last announced its earnings results on Thursday, August 24th. The technology company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.16. The firm had revenue of $28.20 million during the quarter, compared to analyst estimates of $27.72 million. Ooma had a negative net margin of 11.48% and a negative return on equity of 30.81%. Ooma’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. Equities analysts predict that Ooma will post ($0.12) earnings per share for the current year.
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Several large investors have recently bought and sold shares of the company. Menta Capital LLC bought a new stake in Ooma during the first quarter valued at approximately $122,000. Rhumbline Advisers bought a new stake in Ooma during the second quarter valued at approximately $128,000. FNY Partners Fund LP bought a new stake in Ooma during the first quarter valued at approximately $129,000. New York State Common Retirement Fund bought a new stake in Ooma during the second quarter valued at approximately $144,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Ooma during the second quarter valued at approximately $186,000. Institutional investors and hedge funds own 70.13% of the company’s stock.
About Ooma
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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