Ooma, Inc. (NYSE:OOMA) Receives Average Rating of “Moderate Buy” from Analysts

Ooma, Inc. (NYSE:OOMA) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.60.

Several equities analysts recently weighed in on OOMA shares. B. Riley raised their price target on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Lake Street Capital raised their target price on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Northland Securities upped their price target on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Benchmark lifted their price objective on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd.

Ooma Stock Performance

OOMA opened at $14.14 on Friday. The company has a market cap of $381.78 million, a price-to-earnings ratio of -38.22 and a beta of 0.94. The company’s fifty day moving average price is $14.00 and its two-hundred day moving average price is $11.48. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling at Ooma

In related news, Director Andrew H. Galligan sold 14,824 shares of Ooma stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the sale, the director now owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric B. Stang sold 61,580 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $15.10, for a total value of $929,858.00. Following the transaction, the chief executive officer now directly owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,457 shares of company stock worth $2,413,132 in the last quarter. 9.76% of the stock is currently owned by company insiders.

Institutional Trading of Ooma

Several hedge funds have recently made changes to their positions in OOMA. Allspring Global Investments Holdings LLC increased its holdings in Ooma by 33.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company’s stock worth $268,000 after acquiring an additional 6,732 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Ooma by 17.1% in the second quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock worth $374,000 after purchasing an additional 5,494 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Ooma by 40.4% in the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after purchasing an additional 154,117 shares during the period. Perritt Capital Management Inc lifted its stake in shares of Ooma by 28.0% during the 2nd quarter. Perritt Capital Management Inc now owns 32,000 shares of the technology company’s stock valued at $318,000 after buying an additional 7,000 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Ooma by 4.1% in the 2nd quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock worth $8,393,000 after buying an additional 33,100 shares during the period. 80.42% of the stock is currently owned by institutional investors.

About Ooma

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.