ValuEngine downgraded shares of Ooma (NYSE:OOMA) from a strong-buy rating to a buy rating in a report published on Thursday, ValuEngine reports.

A number of other research analysts have also recently commented on OOMA. Zacks Investment Research upgraded Ooma from a sell rating to a hold rating in a research note on Wednesday, May 8th. Northland Securities reaffirmed a buy rating and set a $18.00 price objective on shares of Ooma in a research report on Wednesday. JMP Securities reaffirmed a buy rating and set a $20.00 price objective on shares of Ooma in a research report on Wednesday, March 6th. Finally, B. Riley upped their price objective on Ooma from $20.00 to $20.50 and gave the stock a buy rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ooma currently has an average rating of Buy and an average target price of $17.70.

NYSE:OOMA opened at $11.75 on Thursday. Ooma has a 52 week low of $11.53 and a 52 week high of $17.50. The firm has a market cap of $252.61 million, a price-to-earnings ratio of -17.03 and a beta of 0.91.

Ooma (NYSE:OOMA) last released its quarterly earnings results on Tuesday, May 21st. The technology company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Ooma had a negative return on equity of 42.05% and a negative net margin of 11.75%. The company had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $33.64 million. Sell-side analysts predict that Ooma will post -0.82 EPS for the current fiscal year.

In related news, CEO Eric B. Stang sold 12,340 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total value of $170,785.60. Following the completion of the sale, the chief executive officer now owns 397,500 shares in the company, valued at $5,501,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 13,340 shares of company stock valued at $184,286. 10.19% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of OOMA. Marshall Wace North America L.P. acquired a new stake in shares of Ooma during the 1st quarter valued at approximately $28,000. Meeder Asset Management Inc. lifted its position in shares of Ooma by 385.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,147 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,705 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Ooma by 99,100.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,968 shares of the technology company’s stock valued at $53,000 after acquiring an additional 3,964 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in shares of Ooma by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock valued at $88,000 after acquiring an additional 4,960 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Ooma during the 3rd quarter valued at approximately $168,000. Institutional investors own 74.20% of the company’s stock.

About 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.

Further Reading: Insider Trading

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Analyst Recommendations for Ooma (NYSE:OOMA)

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