Ooma (OOMA) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Ooma (NYSE:OOMA) from a buy rating to a strong-buy rating in a report released on Tuesday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Ooma from a sell rating to a hold rating in a research report on Tuesday, April 30th. JMP Securities restated a buy rating and set a $20.00 target price on shares of Ooma in a research report on Wednesday, March 6th. Finally, B. Riley increased their target price on Ooma from $20.00 to $20.50 and gave the stock a buy rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.63.

Ooma stock opened at $13.86 on Tuesday. Ooma has a 12 month low of $11.10 and a 12 month high of $17.50. The company has a market capitalization of $284.43 million, a P/E ratio of -20.09 and a beta of 0.91.

Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, March 5th. The technology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. Ooma had a negative return on equity of 39.40% and a negative net margin of 11.28%. The business had revenue of $34.72 million for the quarter, compared to the consensus estimate of $33.19 million. As a group, equities analysts expect that Ooma will post -0.82 EPS for the current year.

In other news, CEO Eric B. Stang sold 12,340 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total value of $170,785.60. Following the transaction, the chief executive officer now owns 397,500 shares of the company’s stock, valued at $5,501,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eric B. Stang sold 11,548 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $15.12, for a total transaction of $174,605.76. Following the completion of the transaction, the chief executive officer now directly owns 292,500 shares in the company, valued at approximately $4,422,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,888 shares of company stock worth $358,891. Insiders own 10.19% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in OOMA. BlackRock Inc. increased its holdings in shares of Ooma by 27.0% in the third quarter. BlackRock Inc. now owns 1,592,897 shares of the technology company’s stock worth $26,443,000 after purchasing an additional 339,080 shares during the period. Wellington Management Group LLP increased its holdings in shares of Ooma by 168.0% in the first quarter. Wellington Management Group LLP now owns 417,997 shares of the technology company’s stock worth $5,534,000 after purchasing an additional 262,054 shares during the period. Boston Partners increased its holdings in shares of Ooma by 30.6% in the fourth quarter. Boston Partners now owns 570,499 shares of the technology company’s stock worth $7,919,000 after purchasing an additional 133,619 shares during the period. Portolan Capital Management LLC increased its holdings in shares of Ooma by 37.6% in the fourth quarter. Portolan Capital Management LLC now owns 482,445 shares of the technology company’s stock worth $6,696,000 after purchasing an additional 131,759 shares during the period. Finally, 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 purchasing an additional 48,068 shares during the period. 74.82% of the stock is currently owned by hedge funds and other institutional investors.

About Ooma

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.

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