Ooma (NYSE:OOMA) Raised to Buy at ValuEngine

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Ooma (NYSE:OOMA) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, ValuEngine reports.

OOMA has been the subject of several other research reports. Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Northland Securities restated a “buy” rating and issued a $18.00 target price on shares of Ooma in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.70.

OOMA traded up $0.80 on Friday, hitting $11.64. 105,359 shares of the company’s stock were exchanged, compared to its average volume of 64,559. The firm has a market capitalization of $220.66 million, a price-to-earnings ratio of -16.87 and a beta of 0.86. Ooma has a twelve month low of $9.85 and a twelve month high of $17.50. The company’s fifty day simple moving average is $11.33. The company has a current ratio of 1.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.07.

Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, May 21st. The technology company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. Ooma had a negative net margin of 11.75% and a negative return on equity of 42.73%. The firm had revenue of $34.01 million for the quarter, compared to analyst estimates of $33.64 million. On average, equities analysts expect that Ooma will post -0.82 EPS for the current fiscal year.

In other news, CFO Ravi Narula sold 5,611 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $11.46, for a total value of $64,302.06. Following the completion of the transaction, the chief financial officer now directly owns 195,357 shares in the company, valued at $2,238,791.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric B. Stang sold 12,340 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total transaction of $170,785.60. Following the completion of the transaction, the chief executive officer now owns 397,500 shares of the company’s stock, valued at $5,501,400. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,701 shares of company stock valued at $417,623. 10.19% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in shares of Ooma in the first quarter valued at approximately $28,000. Spark Investment Management LLC boosted its holdings in shares of Ooma by 43.5% in the first quarter. Spark Investment Management LLC now owns 53,795 shares of the technology company’s stock valued at $712,000 after acquiring an additional 16,295 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ooma by 4.5% in the first quarter. Rhumbline Advisers now owns 24,468 shares of the technology company’s stock valued at $324,000 after acquiring an additional 1,054 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Ooma by 99,100.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,968 shares of the technology company’s stock valued at $53,000 after acquiring an additional 3,964 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Ooma by 7.2% in the first quarter. Foundry Partners LLC now owns 99,451 shares of the technology company’s stock valued at $1,317,000 after acquiring an additional 6,675 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.

Ooma Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ooma (NYSE:OOMA)

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