Ooma (NYSE:OOMA) Share Price Passes Above 50 Day Moving Average of $8.22

Ooma, Inc. (NYSE:OOMA) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.22 and traded as high as $9.29. Ooma shares last traded at $9.15, with a volume of 30,416 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OOMA shares. Benchmark dropped their price target on Ooma from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Lake Street Capital began coverage on Ooma in a research note on Monday, June 17th. They issued a “buy” rating and a $14.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.50.

Ooma Stock Performance

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 company has a fifty day moving average price of $8.22 and a 200 day moving average price of $9.09. The stock has a market cap of $241.56 million, a PE ratio of -91.50 and a beta of 0.93.

Ooma (NYSE:OOMA) last announced 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). Ooma had a negative net margin of 1.09% and a negative return on equity of 1.41%. The company had revenue of $62.50 million during the quarter, compared to the consensus estimate of $61.85 million. During the same quarter in the previous year, the firm posted $0.02 EPS. Analysts expect that Ooma, Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Ooma

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in Ooma by 84.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,191 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,384 shares during the period. Covestor Ltd grew its position in shares of Ooma by 52.7% in the 1st quarter. Covestor Ltd now owns 6,197 shares of the technology company’s stock worth $53,000 after buying an additional 2,138 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Ooma during the first quarter valued at approximately $130,000. Hsbc Holdings PLC purchased a new stake in Ooma in the third quarter worth $291,000. Finally, Pitcairn Co. boosted its holdings in Ooma by 30.5% in the first quarter. Pitcairn Co. now owns 27,122 shares of the technology company’s stock valued at $231,000 after acquiring an additional 6,336 shares in the last quarter. 80.42% of the stock is owned by institutional investors.

Ooma Company Profile

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.