Analysts at Zacks Investment Research upgraded shares of Ooma Inc. (NYSE: OOMA) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the shares. A number of other analysts have issued reports on the stock recently, and the company has secured a consensus one-year price target of $13.25, higher than the opening price of $9.03. Ooma Inc. stock has a 52-week high of $9.92. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Ooma Inc. (NYSE: OOMA) shares last traded at $9.19, a jump of $0.13 over the previous closing price. Opening at $9.03, they ranged from $8.95 and $9.20 throughout the day.
Ooma Inc. (NYSE: OOMA) currently has a market cap of 159.93M.
59,775 shares traded hands yesterday, higher than the average, out of a total float 9,280,000. Considerable volume aggregation by institutional investors may be in the near future as the combination of significant increases in trading volume and price growth can be indicative components.
However, just a day of heavy buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By following the activity of these professional investors and how they affect moving averages, traders can make the best trades.
With that in mind, Ooma Inc. (NYSE: OOMA) now has a 50-day MA of $8.74 and 200-day MA of $7.58. It has traded in a 52-week range between $5.43 – 9.92 and today’s last price is 0.07% lower than the 52 week high of $9.92.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings at least 25% or more for a 3 year period.
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