Ooma, Inc. (NYSE:OOMA) Receives $14.50 Average Price Target from Brokerages

Ooma, Inc. (NYSE:OOMA - Get Free Report) has received a consensus rating of "Moderate Buy" from the five brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on 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

Several hedge funds and other institutional investors have recently modified their holdings of OOMA. Covestor Ltd boosted its position in Ooma by 52.7% during the 1st quarter. Covestor Ltd now owns 6,197 shares of the technology company's stock valued at $53,000 after acquiring an additional 2,138 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Ooma during the third quarter valued at approximately $115,000. Bailard Inc. purchased a new stake in Ooma in the second quarter worth $108,000. Cubist Systematic Strategies LLC bought a new position in Ooma in the second quarter worth $119,000. Finally, Gladius Capital Management LP purchased a new position in Ooma during the third quarter valued at $165,000. Hedge funds and other institutional investors own 80.42% of the company's stock.

Ooma Trading Down 2.0 %

Shares of NYSE:OOMA traded down $0.27 on Thursday, reaching $13.37. 69,265 shares of the company traded hands, compared to its average volume of 101,817. The stock has a market capitalization of $358.32 million, a P/E ratio of -70.37 and a beta of 0.92. The business's 50-day simple moving average is $11.85 and its 200 day simple moving average is $9.88. 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 52 week low of $6.50 and a 52 week high of $13.85.

Ooma (NYSE:OOMA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 27th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $62.72 million. As a group, equities analysts anticipate that Ooma will post -0.1 EPS for the current fiscal 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.