Analysts Set Ooma, Inc. (NYSE:OOMA) Target Price at $14.50

Ooma, Inc. (NYSE:OOMA) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $14.50.

Separately, JMP Securities restated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th.

Hedge Funds Weigh In On Ooma

A number of institutional investors and hedge funds have recently bought and sold shares of OOMA. Essex Investment Management Co. LLC acquired a new position in shares of Ooma in the 3rd quarter valued at approximately $229,000. SG Americas Securities LLC acquired a new position in shares of Ooma in the 3rd quarter valued at approximately $115,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ooma in the 2nd quarter valued at approximately $119,000. Mackenzie Financial Corp acquired a new position in shares of Ooma in the 2nd quarter valued at approximately $238,000. Finally, Hsbc Holdings PLC raised its position in shares of Ooma by 93.3% in the 2nd quarter. Hsbc Holdings PLC now owns 29,312 shares of the technology company’s stock valued at $281,000 after purchasing an additional 14,150 shares in the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Ooma Trading Down 0.2 %

Shares of NYSE:OOMA opened at $12.15 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. Ooma has a 1 year low of $6.50 and a 1 year high of $12.43. The stock has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $9.25.

Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, August 27th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Ooma had a negative return on equity of 2.22% and a negative net margin of 2.04%. The business had revenue of $64.13 million during the quarter, compared to analysts’ expectations of $62.72 million. As a group, sell-side analysts forecast that Ooma will post -0.1 EPS for the current year.

About Ooma

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.