StockNews.com Upgrades Ooma (NYSE:OOMA) to Strong-Buy

Ooma (NYSE:OOMAGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

OOMA has been the subject of several other reports. Zacks Investment Research upgraded shares of Ooma from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Thursday, January 27th. Colliers Securities assumed coverage on shares of Ooma in a research note on Wednesday, February 2nd. They set a “buy” rating and a $25.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ooma presently has an average rating of “Buy” and an average target price of $26.08.

Shares of OOMA stock opened at $14.51 on Tuesday. The company has a market capitalization of $345.34 million, a PE ratio of -207.26 and a beta of 0.59. The firm has a fifty day simple moving average of $15.69 and a 200-day simple moving average of $18.42. Ooma has a twelve month low of $14.10 and a twelve month high of $24.89.

Ooma (NYSE:OOMAGet Rating) last announced its earnings results on Thursday, March 3rd. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.15. Ooma had a negative net margin of 0.91% and a negative return on equity of 0.98%. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts forecast that Ooma will post -0.16 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Ooma during the fourth quarter worth $774,000. Barclays PLC raised its holdings in shares of Ooma by 61.1% during the fourth quarter. Barclays PLC now owns 45,460 shares of the technology company’s stock worth $929,000 after purchasing an additional 17,240 shares during the period. BlackRock Inc. raised its holdings in shares of Ooma by 4.4% during the fourth quarter. BlackRock Inc. now owns 1,853,807 shares of the technology company’s stock worth $37,891,000 after purchasing an additional 77,660 shares during the period. Deutsche Bank AG raised its holdings in shares of Ooma by 2.1% during the fourth quarter. Deutsche Bank AG now owns 28,676 shares of the technology company’s stock worth $586,000 after purchasing an additional 597 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Ooma by 14.5% during the fourth quarter. Parametric Portfolio Associates LLC now owns 24,880 shares of the technology company’s stock worth $509,000 after purchasing an additional 3,145 shares during the period. 85.56% of the stock is currently owned by institutional investors.

Ooma Company Profile (Get Rating)

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart software-as-a-service and unified-communications-as-a-service (UCaaS) platforms serve as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services.

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