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

Shares of Ooma, Inc. (NYSE:OOMA) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $16.60.

Several equities research analysts recently weighed in on the company. B. Riley upped their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Lake Street Capital upped 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. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Benchmark upped their price target on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Northland Securities increased their target price on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th.

Insider Transactions at Ooma

In related news, CFO Shigeyuki Hamamatsu sold 35,313 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.51, for a total transaction of $547,704.63. Following the sale, the chief financial officer now directly owns 165,301 shares of the company’s stock, valued at $2,563,818.51. This trade represents a 17.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew H. Galligan sold 14,824 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following 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 three months, insiders have sold 158,457 shares of company stock valued at $2,413,132. Insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Ooma

Institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in shares of Ooma by 2.9% during the third quarter. State Street Corp now owns 475,737 shares of the technology company’s stock valued at $5,419,000 after buying an additional 13,240 shares during the last quarter. Walleye Capital LLC lifted its holdings in Ooma by 101.6% in the third 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 period. Inspire Investing LLC bought a new position in Ooma in the fourth quarter valued at about $802,000. Barclays PLC lifted its holdings in Ooma by 32.7% in the third quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after acquiring an additional 24,402 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Ooma by 69.1% in 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 acquiring an additional 66,678 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Price Performance

Shares of OOMA stock opened at $14.38 on Friday. The stock has a market cap of $388.13 million, a price-to-earnings ratio of -38.85 and a beta of 0.96. The business’s fifty day moving average is $14.44 and its 200 day moving average is $12.89. Ooma has a twelve month low of $6.50 and a twelve month 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.

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.