StockNews.com Upgrades Ooma (NYSE:OOMA) to “Strong-Buy”

Ooma (NYSE:OOMA) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

A number of other research firms also recently issued reports on OOMA. Benchmark increased their price objective on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. B. Riley increased their price objective on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. JMP Securities restated a “market perform” rating on shares of Ooma in a research note on Wednesday, August 28th. Lake Street Capital raised their price target on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Northland Securities raised their price target on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $16.60.

Ooma Stock Down 7.0 %

Shares of Ooma stock opened at $14.91 on Friday. Ooma has a 1 year low of $6.50 and a 1 year high of $17.00. The business has a 50-day moving average of $12.91 and a two-hundred day moving average of $10.68. The company has a market capitalization of $399.59 million, a P/E ratio of -40.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.83.

Hedge Funds Weigh In On Ooma

Hedge funds have recently added to or reduced their stakes in the stock. Virtus Investment Advisers Inc. bought a new position in Ooma during the 3rd quarter worth $98,000. SG Americas Securities LLC bought a new position in shares of Ooma in the 3rd quarter valued at $115,000. Bailard Inc. bought a new position in shares of Ooma in the 2nd quarter valued at $108,000. Paloma Partners Management Co bought a new position in shares of Ooma in the 3rd quarter valued at $126,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Ooma in the 2nd quarter valued at $119,000. Institutional investors own 80.42% of the company’s stock.

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.