Ooma, Inc. (NYSE:OOMA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Ooma, Inc. (NYSE:OOMA) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $14.50.

A number of research firms have recently commented on OOMA. JMP Securities reiterated a “market perform” rating on shares of Ooma in a research note on Wednesday. Lake Street Capital assumed coverage on Ooma in a research report on Monday, June 17th. They issued a “buy” rating and a $14.00 price target on the stock.

Ooma Price Performance

Shares of Ooma stock opened at $10.41 on Friday. Ooma has a 1-year low of $6.50 and a 1-year high of $14.61. The firm has a fifty day simple moving average of $9.34 and a 200-day simple moving average of $8.72. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $274.69 million, a price-to-earnings ratio of -104.05 and a beta of 0.93.

Ooma (NYSE:OOMA) last released its earnings results on Tuesday, May 28th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.14). The firm had revenue of $62.50 million for the quarter, compared to analyst estimates 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 firm earned $0.02 EPS. On average, sell-side analysts expect that Ooma will post -0.11 earnings per share for the current year.

Institutional Trading of Ooma

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Ooma by 37.4% during the first quarter. Russell Investments Group Ltd. now owns 579,342 shares of the technology company’s stock valued at $4,942,000 after purchasing an additional 157,569 shares during the period. Vanguard Group Inc. boosted its stake in Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after buying an additional 68,430 shares in the last quarter. Boston Partners increased its holdings in Ooma by 382.5% in the 1st quarter. Boston Partners now owns 463,079 shares of the technology company’s stock valued at $3,940,000 after buying an additional 367,099 shares during the period. Trigran Investments Inc. increased its holdings in Ooma by 9.9% in the 4th quarter. Trigran Investments Inc. now owns 4,036,263 shares of the technology company’s stock valued at $43,309,000 after buying an additional 364,908 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Ooma by 5.1% in the 4th quarter. Wellington Management Group LLP now owns 1,246,310 shares of the technology company’s stock valued at $13,373,000 after buying an additional 60,500 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.

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.