Benchmark Increases Ooma (NYSE:OOMA) Price Target to $17.00

Ooma (NYSE:OOMA) had its price objective raised by analysts at Benchmark from $15.00 to $17.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s target price indicates a potential upside of 10.46% from the company’s current price.

A number of other research firms have also issued reports on OOMA. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. B. Riley raised their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Ooma has an average rating of “Moderate Buy” and an average price target of $15.25.

Ooma Price Performance

OOMA opened at $15.39 on Tuesday. The stock’s 50-day moving average price is $12.74 and its 200 day moving average price is $10.57. Ooma has a 12-month low of $6.50 and a 12-month high of $15.52. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. The firm has a market cap of $412.45 million, a price-to-earnings ratio of -81.00 and a beta of 0.94.

Institutional Trading of Ooma

Several hedge funds have recently modified their holdings of OOMA. Vanguard Group Inc. raised its holdings in Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after purchasing an additional 68,430 shares during the last quarter. Acadian Asset Management LLC grew 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. Connor Clark & Lunn Investment Management Ltd. grew its position in Ooma by 69.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after acquiring an additional 66,678 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Ooma during the second quarter valued at about $119,000. Finally, SG Americas Securities LLC purchased a new stake in Ooma during the third quarter valued at about $115,000. 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.