In a report released today, Josh Nichols from B.Riley FBR maintained a Buy rating on Ooma (NYSE: OOMA), with a price target of $20. The company’s shares opened today at $16.10, close to its 52-week high of $16.95.
Nichols noted:
“Buy-rated Ooma, Inc. (OOMA, $20 PT) reported 2Q19 (Jul) revenue of $31.7M, outpacing guidance of $30.5M to $31.3M, as well as our $30.8M and consensus’ $30.9M. Pro forma EPS of ($0.05) beat our and consensus’ ($0.06), and EBITDA of ($0.6M) were in line with our estimate and above the Street’s ($0.7M). Subscription and services revenue increased 12.8% Y/Y (90% of revenue), and the company’s core business (Office and Enterprise—previously Voxter) and residential offerings grew subscription and services revenue 19% Y/Y . Revenue (AERR) increased 19% Y/Y , to $110M, as Ooma continues to pursue growth initiatives to ramp its expanding business solutions, as well as its home security and video monitoring services.”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 26.4% and a 56.3% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ooma with a $16.50 average price target.
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The company has a one-year high of $16.95 and a one-year low of $9. Currently, Ooma has an average volume of 87.82K.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock.
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Ooma, Inc. is a holding company, which provides communications solutions and other connected services to small business, home and mobile users. It hybrid SaaS platform, consisting of their proprietary cloud, on-premise appliances, mobile applications, and end-point devices, provides the connectivity and functionality that power its solutions.
