Ooma (OOMA) Receives a Buy from B.Riley FBR


B.Riley FBR analyst Josh Nichols reiterated a Buy rating on Ooma (OOMA) today and set a price target of $20.50. The company’s shares closed last Monday at $12.04.

Nichols noted:

“Buy-rated Ooma, Inc. (OOMA—$20.50 PT), our Alpha Generator pick, reported better-than- expected F2Q20 (Jul) results and increased annual guidance. Revenue of $37.3M came in above guidance, beating our $35.7M and consensus $35.6M. EBITDA and pro forma EPS of $(0.5M) and $(0.04) also outpaced our $(1.5M)/$(0.06) and consensus $(1.0M)/$(0.06), respectively. Subscription revenue increased 21.3% Y/Y (including the May acquisition of Broadsmart), and the company’s core Ooma Business (Office and Residential offerings grew subscription revenue 23% Y/Y (16% ex-Broadsmart). Business subscription revenue continued to experience industry-leading growth as well, increasing 68% (46% ex-Broadsmart) and accounted for 38% of revenue.”

According to TipRanks.com, Nichols is a 5-star analyst with an average return of 15.9% and a 44.6% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Horizon Global.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ooma with a $20.50 average price target.

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The company has a one-year high of $17.50 and a one-year low of $9.85. Currently, Ooma has an average volume of 76.56K.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is neutral on the stock.

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Ooma, Inc. engages in the provision of platform for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications.

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