Ooma (NYSE:OOMA) Lowered to Buy at StockNews.com

Ooma (NYSE:OOMAGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also recently weighed in on the stock. Colliers Securities initiated coverage on shares of Ooma in a research report on Wednesday, February 2nd. They issued a “buy” rating and a $25.00 price target on the stock. Zacks Investment Research upgraded shares of Ooma from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Thursday, January 27th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.08.

Shares of OOMA opened at $14.19 on Wednesday. The company’s fifty day moving average is $15.47 and its 200 day moving average is $18.27. Ooma has a fifty-two week low of $14.08 and a fifty-two week high of $24.89. The stock has a market capitalization of $344.82 million, a PE ratio of -202.69 and a beta of 0.59.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Ooma by 4.4% in 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 last quarter. Trigran Investments Inc. lifted its stake in Ooma by 10.9% in the third quarter. Trigran Investments Inc. now owns 1,749,974 shares of the technology company’s stock worth $32,567,000 after acquiring an additional 171,797 shares during the period. Wellington Management Group LLP lifted its stake in Ooma by 15.6% in the third quarter. Wellington Management Group LLP now owns 773,274 shares of the technology company’s stock worth $14,391,000 after acquiring an additional 104,326 shares during the period. State Street Corp lifted its stake in Ooma by 34.5% in the fourth quarter. State Street Corp now owns 646,060 shares of the technology company’s stock worth $13,205,000 after acquiring an additional 165,737 shares during the period. Finally, Wasatch Advisors Inc. lifted its stake in Ooma by 2.5% in the fourth quarter. Wasatch Advisors Inc. now owns 634,434 shares of the technology company’s stock worth $12,968,000 after acquiring an additional 15,667 shares during the period. Hedge funds and other institutional investors own 85.56% of the company’s stock.

About Ooma (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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