Ooma (NYSE:OOMA) Stock Price Up 2.1%

Ooma Inc (NYSE:OOMA)’s stock price rose 2.1% on Wednesday . The company traded as high as $10.14 and last traded at $10.29, approximately 5,670 shares changed hands during trading. A decline of 96% from the average daily volume of 160,821 shares. The stock had previously closed at $10.08.

OOMA has been the subject of a number of recent research reports. Alliance Global Partners initiated coverage on shares of Ooma in a research report on Monday, March 16th. They set a “buy” rating and a $21.00 price objective for the company. B. Riley boosted their price objective on shares of Ooma from $21.50 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 6th. ValuEngine raised shares of Ooma from a “hold” rating to a “buy” rating in a research report on Tuesday, March 17th. Finally, Zacks Investment Research raised shares of Ooma from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, March 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.60.

The business’s 50 day moving average price is $12.59 and its two-hundred day moving average price is $12.37. The company has a market capitalization of $218.71 million, a price-to-earnings ratio of -11.67 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 1.05.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Thursday, March 5th. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $40.65 million during the quarter, compared to analyst estimates of $39.89 million. Ooma had a negative net margin of 12.40% and a negative return on equity of 45.94%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. On average, sell-side analysts expect that Ooma Inc will post -0.48 earnings per share for the current year.

In other news, VP Jenny C. Yeh sold 5,945 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.98, for a total value of $83,111.10. Following the completion of the sale, the vice president now directly owns 30,006 shares of the company’s stock, valued at approximately $419,483.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Ooma by 0.5% during the third quarter. State Street Corp now owns 330,977 shares of the technology company’s stock valued at $3,442,000 after purchasing an additional 1,573 shares during the last quarter. California Public Employees Retirement System lifted its stake in Ooma by 27.0% during the fourth quarter. California Public Employees Retirement System now owns 29,200 shares of the technology company’s stock valued at $386,000 after purchasing an additional 6,200 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Ooma by 1.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,673,814 shares of the technology company’s stock valued at $22,141,000 after purchasing an additional 23,279 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Ooma by 22.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 148,292 shares of the technology company’s stock valued at $1,962,000 after purchasing an additional 27,100 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Ooma by 110.0% during the fourth quarter. Acadian Asset Management LLC now owns 54,702 shares of the technology company’s stock valued at $725,000 after purchasing an additional 28,656 shares during the last quarter. 74.10% of the stock is owned by institutional investors and hedge funds.

About Ooma (NYSE:OOMA)

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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