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

Ooma (NYSE:OOMA) had its price target increased by research analysts at B. Riley from $14.50 to $15.50 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. B. Riley’s price objective indicates a potential upside of 6.53% from the stock’s previous close.

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 issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Ooma Trading Up 1.0 %

NYSE OOMA opened at $14.55 on Monday. The company’s fifty day simple moving average is $12.25 and its 200-day simple moving average is $10.24. Ooma has a 52 week low of $6.50 and a 52 week high of $14.60. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. The stock has a market cap of $389.94 million, a P/E ratio of -76.84 and a beta of 0.92.

Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, August 27th. The technology company reported ($0.02) EPS for the quarter, topping 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 business had revenue of $64.13 million for the quarter, compared to analysts’ expectations of $62.72 million. Equities research analysts predict that Ooma will post -0.1 EPS for the current fiscal year.

Institutional Trading of Ooma

Several institutional investors have recently added to or reduced their stakes in the stock. Boston Partners raised its holdings in shares of Ooma by 382.5% during the first quarter. Boston Partners now owns 463,079 shares of the technology company’s stock worth $3,940,000 after purchasing an additional 367,099 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Ooma by 40.4% during the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 154,117 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Ooma by 64.8% during the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after purchasing an additional 76,161 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after purchasing an additional 68,430 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ooma by 69.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after purchasing an additional 66,678 shares during the period. 80.42% of the stock is owned by institutional investors and hedge funds.

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.