Ooma (NYSE:OOMA) Share Price Passes Above 50-Day Moving Average of $14.37

Ooma, Inc. (NYSE:OOMA – Get Rating) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.37 and traded as high as $14.43. Ooma shares last traded at $14.23, with a volume of 52,342 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OOMA. Benchmark increased their target price on Ooma to $24.00 in a report on Friday, December 2nd. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 9th.

Ooma Stock Performance

The firm has a 50 day simple moving average of $14.37 and a two-hundred day simple moving average of $13.63. The firm has a market capitalization of $352.90 million, a P/E ratio of -109.46 and a beta of 0.77.

Ooma (NYSE:OOMA – Get Rating) last issued its quarterly earnings data on Wednesday, November 30th. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. Ooma had a negative return on equity of 1.55% and a negative net margin of 1.59%. The business had revenue of $56.68 million for the quarter, compared to analysts’ expectations of $56.20 million. Sell-side analysts anticipate that Ooma, Inc. will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Ooma

Several large investors have recently bought and sold shares of OOMA. Tower Research Capital LLC TRC increased its position in shares of Ooma by 102.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,375 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,201 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Ooma by 404.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,471 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,981 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Ooma during the 1st quarter valued at $48,000. Lazard Asset Management LLC increased its position in shares of Ooma by 43.6% during the 2nd quarter. Lazard Asset Management LLC now owns 6,375 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,936 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Ooma during the 2nd quarter valued at $120,000. 80.09% of the stock is currently owned by institutional investors.

About Ooma

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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 Office Pro, which offers various services, including HD video meetings, call recording, enhanced call blocking, and voicemail transcription; Ooma Connect, which delivers fixed wireless internet connectivity; Ooma Managed Wi-Fi, a plug-and-play enterprise-grade Wi-Fi solution; and Ooma Enterprise, a unified-communications-as-a-service solution.