Investment Analysts’ Recent Ratings Updates for Ooma (OOMA)

A number of firms have modified their ratings and price targets on shares of Ooma (NYSE: OOMA) recently:

  • 9/11/2021 – Ooma was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock. 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. “
  • 9/3/2021 – Ooma had its price target raised by analysts at JMP Securities from $22.00 to $27.00. They now have an “outperform” rating on the stock.
  • 9/3/2021 – Ooma had its price target raised by analysts at B. Riley from $24.00 to $27.50. They now have a “buy” rating on the stock.
  • 9/3/2021 – Ooma had its price target raised by analysts at Benchmark Co. from $27.00 to $30.00. They now have a “buy” rating on the stock.
  • 7/28/2021 – Ooma was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “

OOMA traded down $0.08 on Thursday, reaching $19.91. 115 shares of the stock were exchanged, compared to its average volume of 137,003. The company’s 50-day moving average price is $18.83 and its 200 day moving average price is $18.25. Ooma, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $24.89. The firm has a market capitalization of $467.89 million, a PE ratio of -181.00 and a beta of 0.41.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Thursday, September 2nd. The technology company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. The company had revenue of $47.06 million during the quarter, compared to analysts’ expectations of $46.36 million. Ooma had a negative return on equity of 2.50% and a negative net margin of 1.30%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, equities analysts anticipate that Ooma, Inc. will post -0.11 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. FORA Capital LLC acquired a new position in shares of Ooma in the 2nd quarter valued at about $35,000. Marshall Wace North America L.P. acquired a new position in shares of Ooma in the 1st quarter valued at about $28,000. Lazard Asset Management LLC acquired a new position in shares of Ooma in the 2nd quarter valued at about $73,000. Panagora Asset Management Inc. lifted its holdings in shares of Ooma by 13.8% in the 1st quarter. Panagora Asset Management Inc. now owns 5,316 shares of the technology company’s stock valued at $84,000 after buying an additional 645 shares during the period. Finally, UBS Group AG raised its holdings in Ooma by 77.0% in the 1st quarter. UBS Group AG now owns 5,331 shares of the technology company’s stock worth $84,000 after purchasing an additional 2,319 shares during the period. 83.09% of the stock is owned by institutional investors and hedge funds.

Ooma, Inc engages in the provision of platform for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications. Its products and services include Ooma business and Ooma residential.

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