Ooma (OOMA) PT Raised to $20 at Benchmark

Benchmark analyst Matt Harrigan raised the price target on Ooma (NYSE: OOMA) to $20.00 (from $17.00) while maintaining a Buy rating.

The analyst commented, "We maintain our Ooma BUY rating and are increasing our price target to $20 from $17 after yesterday’s post close earnings release. The increase is supported by product bouquet momentum especially for its category killer AirDial POTS replacement product and significant margin improvements off operating leverage including immediate lower R&D spending. The extent of the AirDial market opportunity is conveyed by more 20M+ North American POTS lines requiring urgent actions to avoid cost escalations, limit potential safety liabilities and reduce business disruptions. Benchmark’s F2030 Adjusted EBITDA margin assumption is conservatively only slightly above 18%, decidedly below management’s 20-25% long-term indication."

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Movano (MOVE) Misses Q2 EPS by 195c