B. Riley Forecasts Strong Price Appreciation for Ooma (NYSE:OOMA) Stock

Ooma (NYSE:OOMA) had its price target upped by B. Riley from $14.50 to $15.50 in a report issued on Monday,Benzinga reports. B. Riley currently has a buy rating on the technology company’s stock.

Separately, JMP Securities restated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.75.

Ooma Stock Performance

Shares of OOMA opened at $14.46 on Monday. Ooma has a 1 year low of $6.50 and a 1 year high of $14.61. The company’s 50 day simple moving average is $12.38 and its 200 day simple moving average is $10.32. The company has a market capitalization of $387.53 million, a price-to-earnings ratio of -76.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.83 and a current ratio of 1.15.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Ooma had a negative return on equity of 2.22% and a negative net margin of 2.04%. The business had revenue of $64.13 million during the quarter, compared to the consensus estimate of $62.72 million. On average, sell-side analysts predict that Ooma will post -0.1 EPS for the current year.

Institutional Trading of Ooma

Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System purchased a new stake in Ooma during the 1st quarter worth $130,000. Vanguard Group Inc. boosted its stake in shares of Ooma by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock valued at $10,802,000 after buying an additional 68,430 shares during the last quarter. Boston Partners raised its holdings in Ooma by 382.5% in the first quarter. Boston Partners now owns 463,079 shares of the technology company’s stock valued at $3,940,000 after acquiring an additional 367,099 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Ooma by 64.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock valued at $1,923,000 after acquiring an additional 76,161 shares during the last quarter. Finally, Bailard Inc. acquired a new position in Ooma during the 2nd quarter worth $108,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

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.