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

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.60.

Several research analysts have commented on OOMA shares. Lake Street Capital raised 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 raised Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Benchmark lifted their price target on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. B. Riley lifted their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Northland Securities lifted 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.

Ooma Trading Up 3.0 %

OOMA opened at $14.85 on Friday. The stock’s fifty day moving average is $14.43 and its two-hundred day moving average is $12.82. The company has a market capitalization of $400.84 million, a P/E ratio of -40.12 and a beta of 0.96. Ooma has a 52 week low of $6.50 and a 52 week 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 Buying and Selling at Ooma

In other Ooma news, CEO Eric B. Stang sold 61,580 shares of the 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 completion of the transaction, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at $18,809,541.50. This represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James A. Gustke sold 3,582 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $17.00, for a total value of $60,894.00. Following the transaction, the senior vice president now directly owns 27,675 shares of the company’s stock, valued at $470,475. The trade was a 11.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,457 shares of company stock worth $2,413,132. Insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Ooma

A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of Ooma by 2.1% during the third quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock valued at $462,000 after acquiring an additional 818 shares during the last quarter. Barclays PLC grew its position in shares of Ooma by 0.9% in the fourth quarter. Barclays PLC now owns 99,891 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 927 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Ooma by 0.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock valued at $2,047,000 after purchasing an additional 1,364 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Ooma by 26.4% in the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after purchasing an additional 2,663 shares in the last quarter. Finally, Occudo Quantitative Strategies LP grew its position in shares of Ooma by 14.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 22,957 shares of the technology company’s stock valued at $323,000 after purchasing an additional 2,833 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

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.