B.Riley FBR Gives a Buy Rating to Ooma (OOMA)

B.Riley FBR analyst Josh Nichols assigned a Buy rating to Ooma (OOMAResearch Report) today and set a price target of $20.50. The company’s shares closed yesterday at $13.66.

Nichols wrote:

“Buy-rated Ooma, Inc. (OOMA, $20.50 PT), which will be presenting at our 20th Annual B. Riley FBR 22-23, reports F1Q20 (Apr) results, after the close, on Tuesday, 5/21, call at 5:00PM ET (Dial-in: 833.233.4456). We model revenue and EBITDA of $33.7M and $(1.1M) relative to consensus of $33.6M and $(0.8M) as well as top-line guidance of $33.5M-$34.0M. Business (Office and Enterprise—previously Voxter) subscriber base is a top priority, and we are optimistic for FY20 given the company’s broadening platform—enhanced Ooma Office features, Enterprise platform, and new security offerings.”

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.1% and a 42.5% 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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Based on Ooma’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $3.49 million. In comparison, last year the company had a GAAP net loss of $3.69 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.

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