Ooma price target lowered to $17 from $18 at Alliance Global Partners

Alliance Global Partners tells investors in a research note that the acquisition of 2600Hz for $33M in cash by Ooma should strengthen Ooma’s competitive positioning. The analyst maintained a Buy rating on Ooma, but lowered the firm’s price target to $17 from $18, saying that the improved competitive positioning is coming at a high cost because 2600Hz was not prepared to sell in past years when it had discussions with Ooma.