Ooma (NYSE:OOMA) Price Target Raised to $15.50

Ooma (NYSE:OOMA) had its price objective boosted by B. Riley from $14.50 to $15.50 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, JMP Securities reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Ooma currently has a consensus rating of “Moderate Buy” and an average target price of $14.75.

Ooma Stock Performance

OOMA stock opened at $14.46 on Monday. Ooma has a 1 year low of $6.50 and a 1 year high of $14.61. The stock has a market capitalization of $387.53 million, a price-to-earnings ratio of -76.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.83 and a current ratio of 1.15. The stock’s fifty day moving average is $12.31 and its two-hundred day moving average is $10.29.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. Ooma had a negative net margin of 2.04% and a negative return on equity of 2.22%. The firm had revenue of $64.13 million for the quarter, compared to the consensus estimate of $62.72 million. On average, research analysts predict that Ooma will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Ooma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. bought a new stake in shares of Ooma in the 3rd quarter worth $98,000. Bailard Inc. bought a new stake in Ooma in the second quarter worth about $108,000. SG Americas Securities LLC acquired a new stake in Ooma in the 3rd quarter valued at about $115,000. Cubist Systematic Strategies LLC bought a new position in shares of Ooma during the 2nd quarter valued at about $119,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ooma in the 3rd quarter worth approximately $126,000. Institutional investors own 80.42% of the company’s stock.

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.