Ooma, Inc. (NYSE:OOMA) Receives $16.60 Consensus Price Target from Brokerages

Ooma, Inc. (NYSE:OOMA) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.60.

Several brokerages have recently weighed in on OOMA. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Benchmark raised their price target on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Lake Street Capital increased their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Northland Securities boosted their target price on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th.

Insiders Place Their Bets

In other news, CEO Eric B. Stang sold 61,580 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the sale, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. The trade was a 4.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James A. Gustke sold 3,582 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $17.00, for a total transaction of $60,894.00. Following the completion of the sale, the senior vice president now directly owns 27,675 shares of the company’s stock, valued at $470,475. The trade was a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,633 shares of company stock worth $2,197,295. Insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Ooma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Ooma by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after buying an additional 68,430 shares during the period. Acadian Asset Management LLC lifted its position in shares of Ooma by 40.4% in the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after acquiring an additional 154,117 shares in the last quarter. Walleye Capital LLC boosted its stake in Ooma by 101.6% in the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock worth $627,000 after purchasing an additional 27,727 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Ooma by 69.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after purchasing an additional 66,678 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Ooma in the second quarter worth $119,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Stock Down 3.4 %

Shares of Ooma stock opened at $14.63 on Monday. The company has a fifty day moving average price of $13.30 and a 200 day moving average price of $10.93. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04. Ooma has a twelve month low of $6.50 and a twelve month high of $17.00. The stock has a market cap of $395.01 million, a price-to-earnings ratio of -39.54 and a beta of 0.94.

Ooma Company Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.