Zacks Investment Research Lowers Ooma (OOMA) to Sell

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Zacks Investment Research lowered shares of Ooma (NYSE:OOMA) from a hold rating to a sell rating in a research note issued to investors on Thursday.

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 stock. ValuEngine downgraded shares of Ooma from a strong-buy rating to a buy rating in a research note on Friday, March 1st. JMP Securities reissued a buy rating and issued a $20.00 target price on shares of Ooma in a research note on Wednesday, March 6th. William Blair upgraded Ooma from a market perform rating to an outperform rating in a report on Wednesday, November 28th. Finally, B. Riley lifted their price target on Ooma from $20.00 to $20.50 and gave the company a buy rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Ooma presently has a consensus rating of Buy and a consensus target price of $17.63.

Shares of OOMA stock opened at $15.41 on Thursday. Ooma has a twelve month low of $10.20 and a twelve month high of $17.50. The stock has a market capitalization of $309.74 million, a P/E ratio of -22.33 and a beta of 0.97.

Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, March 5th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Ooma had a negative net margin of 11.28% and a negative return on equity of 38.78%. Equities analysts expect that Ooma will post -0.82 earnings per share for the current fiscal year.

In other Ooma news, CEO Eric B. Stang sold 11,548 shares of Ooma stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $15.12, for a total value of $174,605.76. Following the completion of the sale, the chief executive officer now owns 292,500 shares in the company, valued at approximately $4,422,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James A. Gustke sold 5,500 shares of Ooma stock in a transaction dated Friday, February 1st. The shares were 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. Insiders sold a total of 22,548 shares of company stock valued at $333,776 in the last 90 days. 10.47% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Ooma by 15.6% in the 4th quarter. American Century Companies Inc. now owns 39,769 shares of the technology company’s stock valued at $552,000 after buying an additional 5,376 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 12,220 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings 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 worth $88,000 after purchasing an additional 4,960 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of 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 during the period. Finally, Stone Ridge Asset Management LLC grew its holdings in shares of 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 during the period. Institutional investors own 77.24% of the company’s stock.

Ooma Company Profile

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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