Ooma (NYSE:OOMA) Price Target Lowered to $17.00 at Lake Street Capital

Ooma (NYSE:OOMA) had its target price reduced by Lake Street Capital from $18.00 to $17.00 in a report released on Wednesday,Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

OOMA has been the subject of a number of other research reports. Northland Securities boosted their price target on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. B. Riley increased their target price 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. Benchmark boosted their price target on shares of Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.00.

Ooma Price Performance

Shares of NYSE:OOMA opened at $14.04 on Wednesday. The firm’s 50 day moving average is $14.42 and its two-hundred day moving average is $13.07. The firm has a market capitalization of $379.16 million, a P/E ratio of -37.95 and a beta of 0.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Ooma has a 52 week low of $6.50 and a 52 week high of $17.00.

Insider Activity at Ooma

In related news, Director Andrew H. Galligan sold 14,824 shares of the company’s 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 completion of the sale, the director now owns 241,932 shares in the company, valued at approximately $3,522,529.92. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of Ooma stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.10, for a total transaction of $929,858.00. Following the transaction, the chief executive officer now owns 1,245,665 shares in the company, valued at approximately $18,809,541.50. The trade was a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,875 shares of company stock worth $2,352,238 in the last quarter. 9.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in Ooma during the 4th quarter worth about $92,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Ooma in the third quarter worth approximately $98,000. EntryPoint Capital LLC acquired a new stake in shares of Ooma during the fourth quarter worth approximately $153,000. Paloma Partners Management Co purchased a new position in Ooma during the third quarter valued at approximately $126,000. Finally, Oxford Asset Management LLP acquired a new position in Ooma in the 4th quarter valued at approximately $168,000. 80.42% of the stock is owned by institutional investors and hedge funds.

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.