Ooma (NYSE:OOMA) Raised to Buy at ValuEngine

Ooma (NYSE:OOMA) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday, ValuEngine reports.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Northland Securities reissued a “buy” rating and set a $18.00 price objective on shares of Ooma in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $17.70.

Shares of NYSE OOMA traded up $0.80 during trading on Friday, hitting $11.64. 105,359 shares of the company traded hands, compared to its average volume of 64,559. Ooma has a 1 year low of $9.85 and a 1 year high of $17.50. The stock has a 50-day moving average of $11.33. The company has a market cap of $220.66 million, a price-to-earnings ratio of -16.87 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.30 and a quick ratio of 1.06.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 21st. The technology company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Ooma had a negative net margin of 11.75% and a negative return on equity of 42.73%. The company had revenue of $34.01 million during the quarter, compared to analysts’ expectations of $33.64 million. On average, research analysts predict that Ooma will post -0.82 EPS for the current fiscal year.

In related news, CEO Eric B. Stang sold 12,483 shares of the company’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $11.46, for a total transaction of $143,055.18. Following the completion of the sale, the chief executive officer now directly owns 362,500 shares of the company’s stock, valued at approximately $4,154,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James A. Gustke sold 2,267 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $11.46, for a total transaction of $25,979.82. Following the sale, the vice president now directly owns 125,478 shares of the company’s stock, valued at $1,437,977.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,701 shares of company stock valued at $417,623. 10.19% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in Ooma by 106.5% in the 3rd quarter. Morgan Stanley now owns 93,201 shares of the technology company’s stock worth $1,547,000 after buying an additional 48,068 shares in the last quarter. Rhumbline Advisers lifted its holdings in Ooma by 51.5% in the 4th quarter. Rhumbline Advisers now owns 23,414 shares of the technology company’s stock worth $325,000 after buying an additional 7,964 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ooma by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 84,942 shares of the technology company’s stock worth $1,179,000 after buying an additional 8,044 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Ooma by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 220,009 shares of the technology company’s stock worth $3,052,000 after buying an additional 12,220 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Ooma by 121.1% in the 4th quarter. Barclays PLC now owns 15,580 shares of the technology company’s stock worth $216,000 after buying an additional 8,535 shares in the last quarter. 75.69% of the stock is owned by hedge funds and other institutional investors.

Ooma Company Profile

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

Analyst Recommendations for Ooma (NYSE:OOMA)

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