Ooma (OOMA) Cut to Sell at ValuEngine

ValuEngine downgraded shares of Ooma (NYSE:OOMA) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

Other equities research analysts have also recently issued reports about the company. Northland Securities reaffirmed a buy rating and issued a $13.00 target price on shares of Ooma in a report on Friday, December 1st. B. Riley reaffirmed a buy rating and issued a $13.00 target price on shares of Ooma in a report on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $12.67.

Shares of Ooma (NYSE:OOMA) opened at $12.10 on Wednesday. Ooma has a twelve month low of $7.30 and a twelve month high of $12.75. The stock has a market capitalization of $229.74 and a PE ratio of -17.04.

Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, November 28th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. Ooma had a negative return on equity of 32.29% and a negative net margin of 11.65%. The firm had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $28.04 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. equities analysts predict that Ooma will post -0.7 EPS for the current fiscal year.

In other Ooma news, CFO Ravi Narula sold 3,143 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.00, for a total transaction of $37,716.00. Following the sale, the chief financial officer now directly owns 217,522 shares of the company’s stock, valued at $2,610,264. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric B. Stang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $11.22, for a total value of $112,200.00. Following the sale, the chief executive officer now directly owns 1,257,704 shares in the company, valued at $14,111,438.88. The disclosure for this sale can be found here. Insiders have sold 53,825 shares of company stock worth $630,697 over the last three months. 48.19% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HCSF Management LLC bought a new position in shares of Ooma during the second quarter valued at approximately $2,938,000. AWM Investment Company Inc. grew its stake in shares of Ooma by 20.7% during the second quarter. AWM Investment Company Inc. now owns 1,343,950 shares of the technology company’s stock valued at $10,752,000 after buying an additional 230,872 shares during the last quarter. State Street Corp grew its stake in shares of Ooma by 1,184.9% during the second quarter. State Street Corp now owns 188,879 shares of the technology company’s stock valued at $1,511,000 after buying an additional 174,179 shares during the last quarter. Northern Trust Corp grew its stake in shares of Ooma by 658.1% during the second quarter. Northern Trust Corp now owns 188,546 shares of the technology company’s stock valued at $1,508,000 after buying an additional 163,676 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Ooma by 33.8% during the third quarter. Russell Investments Group Ltd. now owns 509,439 shares of the technology company’s stock valued at $5,374,000 after buying an additional 128,583 shares during the last quarter. 72.32% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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