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

Ooma, Inc. (NYSE:OOMA) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings 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 price objective among brokerages that have updated their coverage on the stock in the last year is $16.60.

A number of research analysts recently commented on OOMA shares. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Benchmark boosted their target price on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. B. Riley increased their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. Lake Street Capital lifted their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Northland Securities upped 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.

Ooma Price Performance

Ooma stock opened at $14.54 on Friday. The firm has a market cap of $392.58 million, a PE ratio of -39.30 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82. The stock’s fifty day moving average price is $14.44 and its two-hundred day moving average price is $12.88. Ooma has a one year low of $6.50 and a one year high of $17.00.

Insider Activity

In related news, Director Andrew H. Galligan sold 14,824 shares of the 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 represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shigeyuki Hamamatsu sold 35,313 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.51, for a total value of $547,704.63. Following the completion of the sale, the chief financial officer now directly owns 165,301 shares of the company’s stock, valued at approximately $2,563,818.51. The trade was a 17.60 % decrease in their position. 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. 9.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Ooma in the fourth quarter valued at $92,000. Virtus Investment Advisers Inc. acquired a new position in shares of Ooma in the 3rd quarter valued at about $98,000. SG Americas Securities LLC bought a new stake in shares of Ooma during the 3rd quarter valued at about $115,000. EntryPoint Capital LLC acquired a new stake in Ooma during the fourth quarter worth approximately $153,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Ooma during the 3rd quarter worth approximately $126,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Company Profile

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.