B. Riley started coverage on shares of Ooma Inc. (NYSE:OOMA) in a research note issued to investors on Tuesday. The firm issued a buy rating and a $15.50 price objective on the stock.
A number of other research firms have also recently issued reports on OOMA. Zacks Investment Research cut Ooma from a hold rating to a sell rating in a report on Tuesday, September 6th. Bank of America Corp. restated a buy rating and set a $12.00 price target on shares of Ooma in a report on Wednesday, August 31st. Credit Suisse Group AG restated a buy rating on shares of Ooma in a report on Wednesday, August 31st. Finally, JMP Securities increased their price target on Ooma from $12.00 to $14.00 and gave the stock a market outperform rating in a report on Wednesday, August 31st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $12.71.
Ooma (NYSE:OOMA) opened at 9.04 on Tuesday. The firm’s market capitalization is $157.32 million. The company’s 50-day moving average is $8.94 and its 200-day moving average is $8.10. Ooma has a one year low of $5.43 and a one year high of $9.92.
Ooma (NYSE:OOMA) last released its earnings results on Tuesday, August 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business earned $25.50 million during the quarter, compared to the consensus estimate of $25.21 million. Ooma had a negative net margin of 14.33% and a negative return on equity of 32.89%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities analysts forecast that Ooma will post ($0.22) earnings per share for the current fiscal year.
In related news, VP Spencer D. Jackson sold 12,720 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $9.09, for a total value of $115,624.80. Following the transaction, the vice president now directly owns 109,500 shares in the company, valued at approximately $995,355. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James A. Gustke sold 6,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $8.20, for a total value of $49,200.00. Following the completion of the transaction, the vice president now owns 224,434 shares in the company, valued at $1,840,358.80. The disclosure for this sale can be found here. 48.19% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Ooma by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 58,723 shares of the company’s stock worth $481,000 after buying an additional 3,707 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Ooma by 46.2% in the second quarter. BlackRock Fund Advisors now owns 22,626 shares of the company’s stock valued at $185,000 after buying an additional 7,150 shares during the period. Acadian Asset Management LLC bought a new position in shares of Ooma during the third quarter valued at $167,000. Vanguard Group Inc. boosted its position in shares of Ooma by 9.6% in the second quarter. Vanguard Group Inc. now owns 235,697 shares of the company’s stock valued at $1,931,000 after buying an additional 20,566 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Ooma during the first quarter valued at $261,000. Institutional investors own 22.84% of the company’s stock.