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

Shares of Ooma, Inc. (NYSE:OOMA) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.60.

A number of equities research analysts have weighed in on OOMA shares. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Northland Securities increased their target price on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. B. Riley boosted their price target on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research note on Monday, November 25th. Lake Street Capital upped their price target on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Benchmark raised 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 Down 0.9 %

OOMA opened at $14.35 on Tuesday. The stock has a market capitalization of $387.42 million, a price-to-earnings ratio of -38.78 and a beta of 0.96. The firm has a 50 day moving average price of $14.44 and a 200-day moving average price of $12.21. Ooma has a twelve month low of $6.50 and a twelve month high of $17.00. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Insider Activity at Ooma

In related news, CEO Eric B. Stang sold 61,580 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. This represents a 4.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Pearce sold 3,700 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.54, for a total value of $57,498.00. Following the sale, the director now directly owns 163,353 shares in the company, valued at approximately $2,538,505.62. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,457 shares of company stock worth $2,413,132. 9.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OOMA. Virtus Investment Advisers Inc. purchased a new position in shares of Ooma during the third quarter valued at about $98,000. SG Americas Securities LLC purchased a new position in Ooma during the 3rd quarter valued at approximately $115,000. Cubist Systematic Strategies LLC purchased a new position in Ooma during the 2nd quarter valued at approximately $119,000. Paloma Partners Management Co bought a new stake in Ooma in the 3rd quarter worth approximately $126,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Ooma during the 3rd quarter worth approximately $165,000. 80.42% of the stock is currently owned by institutional investors.

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.