Ooma (NYSE:OOMA) Price Target Cut to $17.00 by Analysts at Lake Street Capital

Ooma (NYSE:OOMA) had its price target dropped by stock analysts at Lake Street Capital from $18.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective would indicate a potential upside of 21.06% from the company’s current price.

A number of other analysts also recently issued reports on the stock. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Northland Securities raised their target price on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Benchmark upped their price target on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, B. Riley increased 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. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ooma currently has an average rating of “Buy” and a consensus price target of $17.00.

Ooma Stock Performance

NYSE:OOMA traded up $0.29 during trading hours on Wednesday, reaching $14.04. The company had a trading volume of 204,172 shares, compared to its average volume of 112,308. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The business’s 50 day moving average price is $14.42 and its 200-day moving average price is $13.07. The firm has a market cap of $379.16 million, a PE ratio of -37.95 and a beta of 0.96.

Insider Buying and Selling

In other Ooma news, CEO Eric B. Stang sold 61,580 shares of Ooma stock in a transaction on Friday, December 6th. The shares were sold at an average price of $15.10, for a total transaction of $929,858.00. Following the sale, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at $18,809,541.50. The trade was a 4.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James A. Gustke sold 3,582 shares of the company’s stock in a transaction 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 sale, 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 three months, insiders have sold 158,457 shares of company stock worth $2,413,132. Insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of Ooma in the fourth quarter valued at approximately $92,000. Virtus Investment Advisers Inc. purchased a new stake in Ooma in the 3rd quarter valued at $98,000. Paloma Partners Management Co acquired a new stake in shares of Ooma in the 3rd quarter worth $126,000. EntryPoint Capital LLC purchased a new position in shares of Ooma during the 4th quarter worth $153,000. Finally, Gladius Capital Management LP acquired a new position in shares of Ooma during the 3rd quarter valued at about $165,000. 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.