Analysts have been eager to weigh in on the Technology sector with new ratings on VMware (VMW) and Ooma (OOMA).
VMware (VMW)
Monness analyst Brian White maintained a Hold rating on VMware today. The company’s shares closed yesterday at $202.24, close to its 52-week high of $206.80.
According to TipRanks.com, White is a top 25 analyst with an average return of 25.6% and a 74.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Salesforce.com, and Alphabet Inc.
Currently, the analyst consensus on VMware is a Moderate Buy with an average price target of $191.41.
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Ooma (OOMA)
In a report released today, Josh Nichols from B.Riley FBR reiterated a Buy rating on Ooma, with a price target of $20.50. The company’s shares closed yesterday at $14.54.
Nichols observed:
“Buy-rated Ooma, Inc. (OOMA, $20.50 PT) reported F1Q20 (Apr) results that surpassed expectations: 1Q revenue of $34.0M came in at the top of guidance, beating our $33.7M and consensus’ $33.6M; EBITDA and pro forma EPS of ($0.5M) and ($0.04) also outpaced our ($1.1M)/($0.05) and consensus’ ($0.8M)/($0.05), respectively. Subscription revenue increased 13.9% Y/Y (91% of revenue), and the company’s core Ooma Business (Office and Residential offerings grew subscription revenue 15% Y/Y as management executes on key growth initiatives. Business subscription revenue continued to experience robust growth, increasing 45% of revenue).”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.2% and a 41.4% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
Currently, the analyst consensus on Ooma is a Strong Buy with an average price target of $19.50.
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