Zacks Research upgraded shares of Ooma (NYSE:OOMA – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks reports.
Several other brokerages have also recently weighed in on OOMA. Citigroup reiterated a “market perform” rating on shares of Ooma in a research note on Monday, September 28th. B. Riley Financial upped their price objective on Ooma from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ooma in a report on Thursday, August 27th. Benchmark reiterated a “buy” rating on shares of Ooma in a research report on Monday, August 17th. Finally, UBS Group reissued a “buy” rating on shares of Ooma in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $25.00.
View Our Latest Report on Ooma
Ooma Price Performance
Ooma (NYSE:OOMA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $83.23 million for the quarter, compared to the consensus estimate of $81.72 million. Ooma had a net margin of 3.57% and a return on equity of 23.55%. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. Equities research analysts anticipate that Ooma will post 0.87 earnings per share for the current year.
Insiders Place Their Bets
In other news, CAO Namrata Sabharwal sold 2,481 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $23.20, for a total value of $57,559.20. Following the completion of the sale, the chief accounting officer directly owned 83,927 shares of the company’s stock, valued at $1,947,106.40. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Stang sold 29,639 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $23.08, for a total transaction of $684,068.12. Following the sale, the chief executive officer owned 1,199,941 shares in the company, valued at $27,694,638.28. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 110,073 shares of company stock valued at $2,469,277. Insiders own 9.90% of the company’s stock.
Institutional Investors Weigh In On Ooma
A number of institutional investors have recently bought and sold shares of OOMA. Meeder Asset Management Inc. lifted its position in shares of Ooma by 28.3% in the first quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company’s stock valued at $49,000 after acquiring an additional 740 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Ooma during the second quarter worth about $50,000. Archer Investment Corp bought a new stake in Ooma during the 1st quarter valued at approximately $96,000. Essential Partners LLC raised its stake in Ooma by 8.3% during the 1st quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock valued at $119,000 after purchasing an additional 626 shares during the period. Finally, Virtus Advisers LLC purchased a new position in Ooma in the 2nd quarter worth approximately $176,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.
Ooma Company Profile
Ooma, Inc is a cloud communications company that provides voice, collaboration, and related services to small and midsize businesses, enterprises, and consumers. Its business offerings are designed to replace or complement traditional business phone systems with internet-based communications delivered through software and connected devices.
Ooma’s business products include Ooma Office, Ooma Pro, and Ooma Enterprise, which provide cloud-based phone systems, business texting, virtual extensions, conferencing, call management, and other unified communications features.
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