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

Ooma, Inc. (NYSE:OOMA) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $16.60.

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

Ooma Stock Down 1.9 %

Shares of NYSE:OOMA opened at $14.49 on Tuesday. The stock has a market capitalization of $391.31 million, a P/E ratio of -39.17 and a beta of 0.96. The stock’s 50-day moving average price is $14.44 and its 200-day moving average price is $12.17. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Ooma has a 12-month low of $6.50 and a 12-month high of $17.00.

Insiders Place Their Bets

In related news, SVP James A. Gustke sold 3,582 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $17.00, for a total transaction of $60,894.00. Following the completion of the transaction, the senior vice president now owns 27,675 shares of the company’s stock, valued at $470,475. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Galligan sold 14,824 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total value of $215,837.44. Following the completion of the sale, the director now directly owns 241,932 shares in the company, valued at $3,522,529.92. This trade represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,457 shares of company stock worth $2,413,132. 9.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ooma by 69.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after buying an additional 66,678 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Ooma during the 4th quarter valued at about $802,000. Walleye Capital LLC boosted its holdings in shares of Ooma by 101.6% during the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock valued at $627,000 after acquiring an additional 27,727 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ooma in the third quarter worth approximately $280,000. Finally, Barclays PLC raised its holdings in shares of Ooma by 32.7% during the third quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after purchasing an additional 24,402 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other 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.