Published On: Thu, Sep 22nd, 2016

Ooma Inc. (OOMA) Upgraded to “Hold” at Zacks Investment Research

Ooma Inc. (NYSE:OOMA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Ooma, Inc. provides communications solutions and other connected services to small business, home and mobile users. The Company’s products include Ooma Office for small businesses, Business Promoter, Ooma Telo for home, Ooma end-point devices, Ooma Premier Service for Telo, Talkatone Application as well as caller identification, call-waiting and voice mail services. Ooma, Inc. is based in Palo Alto, United States. “
Several other equities research analysts also recently weighed in on OOMA. Bank of America Corp. reissued a “buy” rating and issued a $12.00 price objective on shares of Ooma in a report on Wednesday, August 31st. Credit Suisse Group AG reissued a “buy” rating on shares of Ooma in a report on Wednesday, August 31st. Finally, JMP Securities increased their price objective on Ooma from $12.00 to $14.00 and gave the company a “market outperform” rating in a report on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ooma has a consensus rating of “Buy” and a consensus target price of $12.15.

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Shares of Ooma (NYSE:OOMA) traded up 1.43% during trading on Wednesday, hitting $9.19. 59,775 shares of the company traded hands. Ooma has a 52-week low of $5.43 and a 52-week high of $9.92. The stock’s market capitalization is $159.93 million. The company has a 50-day moving average of $8.74 and a 200-day moving average of $7.58.
Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, August 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The firm earned $25.50 million during the quarter, compared to the consensus estimate of $25.21 million. Ooma had a negative return on equity of 32.89% and a negative net margin of 14.33%. Ooma’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities analysts expect that Ooma will post ($0.22) EPS for the current year.
In other news, VP James A. Gustke sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $8.46, for a total transaction of $50,760.00. Following the completion of the sale, the vice president now owns 229,074 shares in the company, valued at $1,937,966.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Spencer D. Jackson sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $7.96, for a total value of $51,740.00. Following the sale, the vice president now owns 108,500 shares of the company’s stock, valued at approximately $863,660. The disclosure for this sale can be found here. Insiders own 48.19% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its stake in Ooma by 46.2% in the second quarter. BlackRock Fund Advisors now owns 22,626 shares of the company’s stock valued at $185,000 after buying an additional 7,150 shares during the period. Renaissance Technologies LLC bought a new stake in Ooma during the first quarter valued at approximately $261,000. BlackRock Institutional Trust Company N.A. boosted its stake in Ooma by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 58,723 shares of the company’s stock valued at $481,000 after buying an additional 3,707 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Ooma during the first quarter valued at approximately $473,000. Finally, Emerald Acquisition Ltd. bought a new stake in Ooma during the second quarter valued at approximately $779,000. Institutional investors and hedge funds own 22.99% of the company’s stock.
About Ooma
Ooma, Inc is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices.

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