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

Ooma, Inc. (NYSE:OOMAGet Rating) has earned an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.08.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Ooma from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Thursday, January 27th. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 12th. Finally, Colliers Securities assumed coverage on shares of Ooma in a research note on Wednesday, February 2nd. They issued a “buy” rating and a $25.00 price target for the company.

Several hedge funds and other institutional investors have recently bought and sold shares of OOMA. Marshall Wace North America L.P. acquired a new stake in shares of Ooma during the 1st quarter worth about $28,000. Royal Bank of Canada raised its stake in Ooma by 8.6% in the 2nd quarter. Royal Bank of Canada now owns 9,317 shares of the technology company’s stock worth $176,000 after purchasing an additional 737 shares in the last quarter. Morgan Stanley raised its stake in Ooma by 587.9% in the 2nd quarter. Morgan Stanley now owns 273,701 shares of the technology company’s stock worth $5,161,000 after purchasing an additional 233,915 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Ooma in the 3rd quarter worth about $202,000. Finally, Tygh Capital Management Inc. raised its stake in Ooma by 13.9% in the 3rd quarter. Tygh Capital Management Inc. now owns 431,078 shares of the technology company’s stock worth $8,022,000 after purchasing an additional 52,512 shares in the last quarter. Institutional investors own 85.56% of the company’s stock.

Ooma stock opened at $14.23 on Friday. The company has a market cap of $345.79 million, a P/E ratio of -203.26 and a beta of 0.59. Ooma has a 1-year low of $14.10 and a 1-year high of $24.89. The company has a fifty day simple moving average of $15.59 and a 200 day simple moving average of $18.35.

Ooma (NYSE:OOMAGet Rating) last announced its quarterly earnings results on Thursday, March 3rd. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $50.49 million during the quarter, compared to analysts’ expectations of $49.97 million. Ooma had a negative net margin of 0.91% and a negative return on equity of 0.95%. During the same quarter last year, the company posted ($0.02) earnings per share. As a group, analysts predict that Ooma will post -0.16 earnings per share for the current fiscal year.

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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