Ooma (NYSE:OOMA) PT Lowered to $21.00 at Alliance Global Partners

Ooma (NYSE:OOMA – Get Rating) had its price target lowered by Alliance Global Partners from $25.00 to $21.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages also recently issued reports on OOMA. Benchmark cut their price target on Ooma to $27.00 in a report on Friday, May 20th. StockNews.com raised Ooma from a buy rating to a strong-buy rating in a report on Thursday, May 12th. Zacks Investment Research upgraded 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. Finally, Colliers Securities initiated coverage on Ooma in a research report on Wednesday, February 2nd. They set a buy rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $22.79.

Shares of Ooma stock opened at $14.21 on Wednesday. The business has a fifty day simple moving average of $13.90 and a two-hundred day simple moving average of $16.83. Ooma has a 1 year low of $12.11 and a 1 year high of $24.89. The company has a market capitalization of $344.83 million, a price-to-earnings ratio of -202.97 and a beta of 0.67.

Ooma (NYSE:OOMA – Get Rating) last announced its quarterly earnings results on Tuesday, May 24th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Ooma had a negative return on equity of 0.95% and a negative net margin of 0.91%. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts expect that Ooma will post -0.17 EPS for the current year.

A number of hedge funds have recently bought and sold shares of OOMA. Trigran Investments Inc. increased its position in shares of Ooma by 15.4% in the first quarter. Trigran Investments Inc. now owns 2,072,795 shares of the technology company’s stock worth $31,071,000 after purchasing an additional 276,095 shares during the period. Morgan Stanley increased its position in shares of Ooma by 587.9% in the second 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 during the period. Wasatch Advisors Inc. increased its position in shares of Ooma by 60.7% in the third quarter. Wasatch Advisors Inc. now owns 618,767 shares of the technology company’s stock worth $11,515,000 after purchasing an additional 233,823 shares during the period. Wellington Management Group LLP increased its position in shares of Ooma by 22.4% in the first quarter. Wellington Management Group LLP now owns 1,153,787 shares of the technology company’s stock worth $17,296,000 after purchasing an additional 211,434 shares during the period. Finally, State Street Corp increased its position in shares of 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 purchasing an additional 165,737 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

About Ooma (Get Rating)

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Office Pro that offers services, including HD video meetings, call recording, enhanced call blocking, and voicemail transcription; Ooma Connect, which delivers fixed wireless internet connectivity; Ooma Managed Wi-Fi, a plug-and-play enterprise-grade Wi-Fi solution; and Ooma Enterprise, a unified-communications-as-a-service solution.

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