Analysts Set Ooma Inc (OOMA) Price Target at $15.50

Shares of Ooma Inc (NYSE:OOMA) have been assigned an average rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $15.50.

A number of equities research analysts recently commented on the company. Credit Suisse Group assumed coverage on Ooma in a report on Friday, August 10th. They issued a “neutral” rating and a $13.00 price objective for the company. B. Riley upped their price objective on Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Finally, William Blair upgraded Ooma from a “market perform” rating to an “outperform” rating in a report on Wednesday.

NYSE OOMA traded down $0.28 on Thursday, reaching $14.94. The company had a trading volume of 73,409 shares, compared to its average volume of 54,562. Ooma has a 52 week low of $9.30 and a 52 week high of $17.50.

Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, November 27th. The technology company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. The business had revenue of $32.61 million during the quarter, compared to the consensus estimate of $31.74 million. Ooma had a negative return on equity of 36.11% and a negative net margin of 11.23%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, equities research analysts predict that Ooma will post -0.69 EPS for the current year.

In other Ooma news, CEO Eric B. Stang sold 19,030 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $15.82, for a total value of $301,054.60. Following the completion of the sale, the chief executive officer now directly owns 372,500 shares in the company, valued at $5,892,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James A. Gustke sold 5,500 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $16.38, for a total value of $90,090.00. Following the completion of the sale, the vice president now owns 138,275 shares of the company’s stock, valued at $2,264,944.50. The disclosure for this sale can be found here. Insiders sold 58,346 shares of company stock valued at $900,023 in the last quarter. 10.47% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Ooma by 1.3% in the third quarter. Vanguard Group Inc. now owns 794,173 shares of the technology company’s stock worth $13,184,000 after acquiring an additional 10,313 shares in the last quarter. Morgan Stanley increased its holdings in shares of Ooma by 106.5% in the third quarter. Morgan Stanley now owns 93,201 shares of the technology company’s stock worth $1,547,000 after acquiring an additional 48,068 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Ooma by 15.8% in the third quarter. Teachers Advisors LLC now owns 35,860 shares of the technology company’s stock worth $595,000 after acquiring an additional 4,894 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Ooma during the third quarter worth about $168,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Ooma during the third quarter worth about $235,000. Institutional investors own 76.52% of the company’s stock.

Ooma Company Profile

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

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Analyst Recommendations for Ooma (NYSE:OOMA)

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