Benchmark Increases Ooma (NYSE:OOMA) Price Target to $20.00

Ooma (NYSE:OOMAGet Free Report) had its price target upped by investment analysts at Benchmark from $17.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s target price would suggest a potential upside of 45.72% from the stock’s current price.

OOMA has been the subject of several other research reports. B. Riley increased their price objective 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. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Lake Street Capital increased their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Northland Securities increased their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.63.

Check Out Our Latest Report on OOMA

Ooma Stock Down 2.4 %

OOMA opened at $13.73 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. Ooma has a 1 year low of $6.50 and a 1 year high of $17.00. The firm has a 50 day moving average price of $14.41 and a 200 day moving average price of $13.08. The company has a market cap of $370.58 million, a PE ratio of -37.09 and a beta of 0.96.

Insider Activity

In other news, Director William D. Pearce sold 3,700 shares of the stock in a transaction that occurred 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 approximately $2,538,505.62. This represents a 2.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric B. Stang sold 39,458 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $15.24, for a total value of $601,339.92. Following the transaction, the chief executive officer now owns 1,275,183 shares in the company, valued at $19,433,788.92. This trade represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,295 shares of company stock worth $1,422,380. 9.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ooma

Several large investors have recently added to or reduced their stakes in OOMA. Quantbot Technologies LP bought a new position in Ooma during the fourth quarter worth $92,000. Virtus Investment Advisers Inc. bought a new position in Ooma during the third quarter worth $98,000. Paloma Partners Management Co bought a new position in Ooma during the third quarter worth $126,000. EntryPoint Capital LLC bought a new position in Ooma during the fourth quarter worth $153,000. Finally, Gladius Capital Management LP bought a new position in Ooma during the third quarter worth $165,000. 80.42% of the stock is currently owned by institutional investors.

About Ooma

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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.

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Analyst Recommendations for Ooma (NYSE:OOMA)

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