Ooma (NYSE:OOMA) Price Target Raised to $15.50 at B. Riley

Ooma (NYSE:OOMA) had its price objective hoisted by stock analysts at B. Riley from $14.50 to $15.50 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. B. Riley’s price objective would suggest a potential upside of 6.53% from the company’s current price.

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

Ooma Stock Performance

Shares of OOMA opened at $14.55 on Monday. Ooma has a 52-week low of $6.50 and a 52-week high of $14.60. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $12.25 and a 200 day moving average price of $10.24. The firm has a market capitalization of $389.94 million, a PE ratio of -76.84 and a beta of 0.92.

Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $64.13 million during the quarter, compared to analyst estimates of $62.72 million. On average, sell-side analysts anticipate that Ooma will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Ooma

A number of hedge funds have recently made changes to their positions in OOMA. Vanguard Group Inc. increased its holdings in Ooma by 5.7% in 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 during the last quarter. Renaissance Technologies LLC increased its holdings in Ooma by 4.1% in the second quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock worth $8,393,000 after buying an additional 33,100 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ooma by 0.9% in the third quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after buying an additional 4,683 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Ooma by 40.4% in the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after buying an additional 154,117 shares during the last quarter. Finally, State Street Corp increased its holdings in Ooma by 2.9% in the third quarter. State Street Corp now owns 475,737 shares of the technology company’s stock worth $5,419,000 after buying an additional 13,240 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other 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.