Ooma, Inc. (NYSE:OOMA) Given Average Rating of “Moderate Buy” by Analysts

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

A number of research analysts have recently issued reports on OOMA shares. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. B. Riley upped their target price on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. Lake Street Capital raised their price target on Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Northland Securities upped their price objective on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Finally, Benchmark raised 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.

Insider Transactions at Ooma

In related news, Director Andrew H. Galligan sold 14,824 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total transaction of $215,837.44. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the completion of the sale, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at $18,809,541.50. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,457 shares of company stock valued at $2,413,132. 9.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtus Investment Advisers Inc. bought a new position in shares of Ooma during the 3rd quarter valued at about $98,000. SG Americas Securities LLC acquired a new stake in Ooma during the third quarter valued at approximately $115,000. Cubist Systematic Strategies LLC bought a new stake in Ooma during the second quarter worth approximately $119,000. Paloma Partners Management Co acquired a new position in Ooma in the third quarter worth approximately $126,000. Finally, Gladius Capital Management LP bought a new position in shares of Ooma in the third quarter valued at $165,000. 80.42% of the stock is owned by institutional investors and hedge funds.

Ooma Stock Performance

OOMA stock opened at $13.91 on Friday. The firm has a market cap of $375.57 million, a P/E ratio of -37.59 and a beta of 0.96. The stock’s 50 day simple moving average is $14.14 and its 200 day simple moving average is $11.65. The company has a current ratio of 1.08, a quick ratio of 0.83 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.

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.