Ooma, Inc. (NYSE:OOMA) Rating Reiterated by Northland Securities
Ooma, Inc. (NYSE:OOMA)‘s stock had its “buy” rating reiterated by analysts at Northland Securities in a research note issued on Wednesday, October 4th. They presently have a $10.75 price target on the technology company’s stock. Northland Securities’ price objective points to a potential upside of 3.86% from the stock’s previous close.
Separately, B. Riley reissued a “buy” rating and issued a $13.00 price objective on shares of Ooma in a research note on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Ooma has a consensus rating of “Hold” and a consensus price target of $11.92.
Ooma (OOMA) traded down 1.43% during mid-day trading on Wednesday, reaching $10.35. 42,123 shares of the company traded hands. Ooma has a 52 week low of $8.39 and a 52 week high of $11.00. The stock’s 50 day moving average price is $10.24 and its 200 day moving average price is $10.24. The firm’s market capitalization is $191.19 million.
Ooma (NYSE:OOMA) last posted its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.16). Ooma had a negative return on equity of 30.96% and a negative net margin of 11.48%. The company had revenue of $28.20 million for the quarter, compared to analyst estimates of $27.72 million. During the same period last year, the company earned ($0.05) earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts forecast that Ooma will post ($0.10) EPS for the current year.
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In other Ooma news, Director Russell Mann sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $10.46, for a total value of $339,950.00. Following the transaction, the director now directly owns 81,279 shares in the company, valued at approximately $850,178.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James A. Gustke sold 7,200 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $10.35, for a total transaction of $74,520.00. Following the transaction, the vice president now owns 182,174 shares in the company, valued at $1,885,500.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,371 shares of company stock worth $671,551. 48.19% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its holdings in Ooma by 345.8% in the first quarter. Morgan Stanley now owns 108,751 shares of the technology company’s stock valued at $1,082,000 after buying an additional 84,354 shares during the period. Renaissance Technologies LLC raised its holdings in Ooma by 112.2% in the first quarter. Renaissance Technologies LLC now owns 780,000 shares of the technology company’s stock valued at $7,761,000 after buying an additional 412,500 shares during the period. Geode Capital Management LLC raised its holdings in Ooma by 118.5% in the first quarter. Geode Capital Management LLC now owns 105,441 shares of the technology company’s stock valued at $1,049,000 after buying an additional 57,184 shares during the period. Menta Capital LLC purchased a new position in Ooma in the first quarter valued at approximately $122,000. Finally, Ameriprise Financial Inc. raised its holdings in Ooma by 97.1% in the first quarter. Ameriprise Financial Inc. now owns 1,356,000 shares of the technology company’s stock valued at $13,493,000 after buying an additional 668,100 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.
Ooma Company Profile
Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.
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