Analysts Set Ooma, Inc. (NYSE:OOMA) Target Price at $14.67

Shares of Ooma, Inc. (NYSE:OOMA) have been given a consensus recommendation of “Buy” by the four research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.50.

A number of research analysts have commented on OOMA shares. Lake Street Capital started coverage on Ooma in a research note on Monday. They issued a “buy” rating and a $14.00 target price on the stock. Alliance Global Partners lowered their target price on Ooma from $16.00 to $14.50 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. B. Riley restated a “buy” rating and issued a $14.50 target price (down previously from $19.00) on shares of Ooma in a research note on Wednesday, March 6th. TheStreet downgraded Ooma from a “c” rating to a “d+” rating in a research note on Tuesday, March 5th. Finally, Benchmark reduced their price target on Ooma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th.

Hedge Funds Weigh In On Ooma

Large investors have recently made changes to their positions in the business. Covestor Ltd lifted its position in shares of Ooma by 31.6% during the 3rd quarter. Covestor Ltd now owns 3,943 shares of the technology company’s stock worth $51,000 after purchasing an additional 946 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Ooma by 84.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,191 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,384 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Ooma during the 1st quarter worth about $130,000. Corton Capital Inc. acquired a new position in shares of Ooma during the 3rd quarter worth about $142,000. Finally, Pitcairn Co. lifted its position in shares of Ooma by 30.5% during the 1st quarter. Pitcairn Co. now owns 27,122 shares of the technology company’s stock worth $231,000 after purchasing an additional 6,336 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Stock Performance

OOMA opened at $8.63 on Monday. The firm has a market cap of $227.83 million, a PE ratio of -86.30 and a beta of 0.86. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $7.76 and a 200-day simple moving average of $9.18. Ooma has a fifty-two week low of $6.50 and a fifty-two week high of $15.66.

Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, May 28th. The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.14). The company had revenue of $62.50 million for the quarter, compared to the consensus estimate of $61.85 million. Ooma had a negative return on equity of 1.41% and a negative net margin of 1.09%. During the same period in the prior year, the business earned $0.02 earnings per share. As a group, equities analysts predict that Ooma will post -0.11 EPS for the current fiscal year.

About Ooma

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 Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.