Other equities analysts have also issued research reports about the company. Northland Securities reissued a buy rating and set a $15.00 price objective on shares of Ooma in a research report on Wednesday, March 7th. Zacks Investment Research raised Ooma from a sell rating to a hold rating in a research report on Wednesday, May 9th. Credit Suisse Group reissued a neutral rating and set a $13.00 price objective (up previously from $12.00) on shares of Ooma in a research report on Wednesday, March 7th. Finally, Bank of America raised Ooma from an underperform rating to a neutral rating and set a $14.00 price objective for the company in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $14.38.
Shares of OOMA stock opened at $12.15 on Wednesday. Ooma has a 52 week low of $7.30 and a 52 week high of $13.45. The firm has a market capitalization of $229.08 million, a P/E ratio of -17.61 and a beta of 0.81.
Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, May 22nd. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $30.22 million during the quarter, compared to analyst estimates of $29.71 million. Ooma had a negative return on equity of 33.09% and a negative net margin of 11.45%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share. analysts expect that Ooma will post -0.71 EPS for the current fiscal year.
In other news, CEO Eric B. Stang sold 10,000 shares of Ooma stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $11.59, for a total value of $115,900.00. Following the completion of the transaction, the chief executive officer now owns 266,500 shares of the company’s stock, valued at approximately $3,088,735. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ravi Narula sold 13,599 shares of Ooma stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $12.04, for a total value of $163,731.96. Following the completion of the transaction, the chief financial officer now directly owns 201,196 shares of the company’s stock, valued at approximately $2,422,399.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,307 shares of company stock valued at $467,084. 10.47% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in Ooma by 6,480.6% in the 3rd quarter. Wells Fargo & Company MN now owns 28,165 shares of the technology company’s stock worth $297,000 after buying an additional 27,737 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Ooma by 29.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 37,100 shares of the technology company’s stock worth $405,000 after buying an additional 8,400 shares in the last quarter. American Century Companies Inc. increased its holdings in Ooma by 20.9% in the 1st quarter. American Century Companies Inc. now owns 39,009 shares of the technology company’s stock worth $425,000 after buying an additional 6,749 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in Ooma in the 1st quarter worth about $523,000. Finally, Deutsche Bank AG increased its holdings in Ooma by 35.7% in the 4th quarter. Deutsche Bank AG now owns 44,790 shares of the technology company’s stock worth $533,000 after buying an additional 11,791 shares in the last quarter. 73.83% of the stock is owned by hedge funds and other institutional investors.
Ooma Company Profile
Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.
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