Ooma (NYSE:OOMA) Shares Pass Below 50-Day Moving Average of $8.68

Ooma, Inc. (NYSE:OOMA)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.68 and traded as low as $6.50. Ooma shares last traded at $6.79, with a volume of 156,898 shares.

Wall Street Analyst Weigh In

OOMA has been the subject of a number of recent analyst reports. Alliance Global Partners decreased their price objective on shares of Ooma from $16.00 to $14.50 and set a “buy” rating for the company in a research note on Wednesday, March 6th. B. Riley reaffirmed a “buy” rating and issued a $14.50 price objective (down previously from $19.00) on shares of Ooma in a research note on Wednesday, March 6th. Benchmark decreased their price objective on shares of Ooma from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, TheStreet lowered shares of Ooma from a “c” rating to a “d+” rating in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $14.67.

Ooma Stock Up 1.2 %

The business’s 50 day simple moving average is $8.68 and its 200-day simple moving average is $10.20. The company has a market cap of $179.39 million, a price-to-earnings ratio of -226.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.24.

Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, March 5th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $61.68 million during the quarter, compared to analyst estimates of $61.46 million. Ooma had a negative net margin of 0.35% and a positive return on equity of 0.35%. Sell-side analysts expect that Ooma, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Ooma

A number of institutional investors have recently modified their holdings of the stock. Trigran Investments Inc. boosted its stake in shares of Ooma by 9.9% during the 4th quarter. Trigran Investments Inc. now owns 4,036,263 shares of the technology company’s stock valued at $43,309,000 after buying an additional 364,908 shares during the period. Wellington Management Group LLP boosted its stake in shares of Ooma by 5.1% during the 4th quarter. Wellington Management Group LLP now owns 1,246,310 shares of the technology company’s stock valued at $13,373,000 after buying an additional 60,500 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Ooma by 9.7% during the 3rd quarter. Acadian Asset Management LLC now owns 380,860 shares of the technology company’s stock valued at $4,952,000 after purchasing an additional 33,519 shares in the last quarter. Herald Investment Management Ltd raised its holdings in shares of Ooma by 15.4% during the 3rd quarter. Herald Investment Management Ltd now owns 260,000 shares of the technology company’s stock valued at $3,375,000 after purchasing an additional 34,600 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Ooma by 6.9% during the 3rd quarter. Boston Partners now owns 208,148 shares of the technology company’s stock valued at $2,707,000 after purchasing an additional 13,450 shares in the last quarter. Institutional investors and hedge funds 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.