Ooma’s (OOMA) “Buy” Rating Reaffirmed at B. Riley

B. Riley reiterated their buy rating on shares of Ooma (NYSE:OOMA) in a research report released on Monday, TipRanks reports. B. Riley currently has a $20.50 price target on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Bank of America downgraded Ooma from a neutral rating to an underperform rating in a research report on Monday, September 30th. Credit Suisse Group lowered their price target on Ooma from $17.00 to $15.00 and set a neutral rating on the stock in a research report on Wednesday, August 28th. ValuEngine upgraded Ooma from a buy rating to a strong-buy rating in a research report on Friday, October 25th. Finally, Citigroup downgraded Ooma from a neutral rating to an underperform rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $18.10.

NYSE:OOMA traded down $0.21 during trading hours on Monday, hitting $11.42. 48,498 shares of the company’s stock traded hands, compared to its average volume of 70,029. The firm has a market cap of $246.87 million, a P/E ratio of -16.55 and a beta of 0.88. Ooma has a 52 week low of $9.85 and a 52 week high of $16.72. The business’s fifty day simple moving average is $11.30 and its two-hundred day simple moving average is $11.81. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.06.

Ooma (NYSE:OOMA) last released its quarterly earnings results on Tuesday, August 27th. The technology company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.02. Ooma had a negative return on equity of 46.20% and a negative net margin of 12.05%. The business had revenue of $37.30 million for the quarter, compared to the consensus estimate of $35.64 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts expect that Ooma will post -0.82 EPS for the current year.

In other news, Director Andrew H. Galligan sold 25,000 shares of Ooma stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $12.31, for a total value of $307,750.00. Following the transaction, the director now owns 185,984 shares in the company, valued at $2,289,463.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric B. Stang sold 21,233 shares of Ooma stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $12.52, for a total value of $265,837.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,233 shares of company stock worth $849,887. Company insiders own 10.19% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OOMA. Marshall Wace North America L.P. purchased a new position in shares of Ooma in the first quarter worth about $28,000. Stone Ridge Asset Management LLC bought a new stake in shares of Ooma in the second quarter worth about $111,000. Bank of Montreal Can grew its stake in shares of Ooma by 41.0% in the second quarter. Bank of Montreal Can now owns 13,471 shares of the technology company’s stock worth $141,000 after purchasing an additional 3,916 shares during the last quarter. Royal Bank of Canada bought a new stake in shares of Ooma in the second quarter worth about $163,000. Finally, GSA Capital Partners LLP grew its stake in shares of Ooma by 58.0% in the second quarter. GSA Capital Partners LLP now owns 17,227 shares of the technology company’s stock worth $181,000 after purchasing an additional 6,327 shares during the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

About Ooma

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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Analyst Recommendations for Ooma (NYSE:OOMA)

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