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

Ooma (NYSE:OOMA) 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.

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

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.