Ooma price target raised to $18 from $14.50 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger raised the firm’s price target on Ooma (OOMA) to $18 from $14.50 and keeps a Buy rating on the shares after the company posted Q3 revenue that was slightly higher than the firm’s estimate and added two new partners that will resell its AirDial product, one of which the firm calls out as “a top tier, national cable company.” While it is taking much longer than expected for Ooma’s unique product to drive shareholder value, the firm believes “it is a matter of time before the transition begins” and Ooma is best positioned to benefit.