Ooma (OOMA) Receives a Rating Update from a Top Analyst

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Ooma (OOMA), with a price target of $24.00. The company’s shares closed last Tuesday at $16.76.

According to TipRanks.com, Latimore is a top 100 analyst with an average return of 33.2% and a 61.5% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.

Ooma has an analyst consensus of Moderate Buy, with a price target consensus of $24.00.

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Based on Ooma’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $44.26 million and GAAP net loss of $595K. In comparison, last year the company earned revenue of $40.65 million and had a GAAP net loss of $2.29 million.

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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. Its products and services Ooma business that offers small business phone service, and enterprise communications; Ooma residential that deals with phone services, and smart security; and Talkatone mobile app. The company was founded by Andrew Frame, Dennis Peng, and Michael Cerda on November 19, 2003 and is headquartered in Palo Alto, CA.

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