Ooma, Inc. (NYSE:OOMA) Receives $16.60 Consensus Price Target from Analysts

Shares of Ooma, Inc. (NYSE:OOMA) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.60.

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

Ooma Trading Up 0.6 %

NYSE:OOMA opened at $14.22 on Friday. The stock has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $11.56. The firm has a market capitalization of $383.94 million, a price-to-earnings ratio of -38.43 and a beta of 0.96. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a quick ratio of 0.83, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other Ooma news, Director William D. Pearce sold 3,700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.54, for a total transaction of $57,498.00. Following the completion of the transaction, the director now directly owns 163,353 shares in the company, valued at $2,538,505.62. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James A. Gustke sold 3,582 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $17.00, for a total transaction of $60,894.00. Following the completion of the sale, the senior vice president now owns 27,675 shares in the company, valued at $470,475. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,457 shares of company stock worth $2,413,132 in the last ninety days. Insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Ooma

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in Ooma by 2.1% during the 3rd quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock worth $462,000 after acquiring an additional 818 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Ooma by 0.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock worth $2,047,000 after acquiring an additional 1,364 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ooma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock valued at $807,000 after acquiring an additional 3,138 shares during the last quarter. Geode Capital Management LLC increased its position in Ooma by 0.9% in the third quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after purchasing an additional 4,683 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Ooma by 17.1% in the 2nd quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock valued at $374,000 after purchasing an additional 5,494 shares during the last quarter. Institutional investors and hedge funds 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.