TheStreet downgraded shares of Ooma Inc. (NYSE:OOMA) from a c- rating to a d rating in a research report released on Tuesday morning.
Other research analysts also recently issued reports about the company. B. Riley reissued a buy rating and issued a $15.50 price objective on shares of Ooma in a research note on Sunday, October 30th. Zacks Investment Research raised Ooma from a sell rating to a hold rating in a research note on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ooma has an average rating of Buy and a consensus target price of $13.70.
Shares of Ooma (NYSE:OOMA) opened at 8.95 on Tuesday. The company’s market cap is $160.17 million. Ooma has a 52 week low of $5.43 and a 52 week high of $9.92. The stock’s 50 day moving average price is $9.10 and its 200-day moving average price is $8.82.
Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, November 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $27 million for the quarter, compared to the consensus estimate of $27 million. Ooma had a negative return on equity of 32.06% and a negative net margin of 13.13%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. Analysts expect that Ooma will post ($0.18) EPS for the current year.
In other news, VP James A. Gustke sold 6,000 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $8.88, for a total value of $53,280.00. Following the completion of the sale, the vice president now directly owns 188,327 shares of the company’s stock, valued at $1,672,343.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 13,235 shares of company stock worth $118,462. 48.19% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of OOMA. BlackRock Group LTD bought a new stake in shares of Ooma during the third quarter valued at approximately $129,000. Morgan Stanley increased its stake in shares of Ooma by 14.2% in the third quarter. Morgan Stanley now owns 15,967 shares of the company’s stock worth $145,000 after buying an additional 1,991 shares during the last quarter. DIAM Co. Ltd. increased its stake in shares of Ooma by 76.5% in the third quarter. DIAM Co. Ltd. now owns 17,300 shares of the company’s stock worth $157,000 after buying an additional 7,500 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Ooma during the third quarter worth approximately $167,000. Finally, BlackRock Fund Advisors increased its stake in shares of Ooma by 46.2% in the second quarter. BlackRock Fund Advisors now owns 22,626 shares of the company’s stock worth $185,000 after buying an additional 7,150 shares during the last quarter. 24.59% of the stock is owned by hedge funds and other institutional investors.
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.