Ooma (OOMA) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Ooma (NYSE:OOMA) from a sell rating to a hold rating in a report published on Saturday, Zacks.com reports.

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. “

Other research analysts also recently issued research reports about the company. B. Riley increased their price target on Ooma from $20.00 to $20.50 and gave the company a buy rating in a research note on Wednesday, March 6th. JMP Securities reaffirmed a buy rating and set a $20.00 price objective on shares of Ooma in a research note on Wednesday, March 6th. Finally, ValuEngine downgraded Ooma from a strong-buy rating to a buy rating in a research note on Friday, March 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $17.63.

OOMA stock opened at $13.15 on Friday. Ooma has a twelve month low of $10.50 and a twelve month high of $17.50.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, March 5th. The technology company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Ooma had a negative return on equity of 39.40% and a negative net margin of 11.28%. Sell-side analysts anticipate that Ooma will post -0.82 EPS for the current year.

In related news, CEO Eric B. Stang sold 11,548 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $15.12, for a total transaction of $174,605.76. Following the sale, the chief executive officer now owns 292,500 shares of the company’s stock, valued at approximately $4,422,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James A. Gustke sold 5,500 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $15.13, for a total value of $83,215.00. The disclosure for this sale can be found here. Company insiders own 10.47% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in Ooma by 15.6% during the 4th quarter. American Century Companies Inc. now owns 39,769 shares of the technology company’s stock worth $552,000 after buying an additional 5,376 shares during the period. Geode Capital Management LLC raised its stake in Ooma by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 220,009 shares of the technology company’s stock worth $3,052,000 after buying an additional 12,220 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Ooma by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock worth $88,000 after buying an additional 4,960 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Ooma by 121.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,768 shares of the technology company’s stock worth $414,000 after purchasing an additional 16,334 shares in the last quarter. Finally, Stone Ridge Asset Management LLC increased its holdings in Ooma by 44.6% during the 4th quarter. Stone Ridge Asset Management LLC now owns 16,720 shares of the technology company’s stock worth $232,000 after purchasing an additional 5,154 shares in the last quarter. 75.35% of the stock is currently owned by institutional investors and hedge funds.

About Ooma

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

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