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

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.60.

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

Ooma Stock Performance

Shares of OOMA stock opened at $14.44 on Tuesday. The company has a market capitalization of $389.83 million, a price-to-earnings ratio of -39.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. Ooma has a one year low of $6.50 and a one year high of $17.00. The company’s 50-day moving average is $14.44 and its 200 day moving average is $12.26.

Insiders Place Their Bets

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 value of $215,837.44. Following the transaction, the director now owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP James A. Gustke sold 3,582 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $17.00, for a total transaction of $60,894.00. Following the sale, 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 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.

Hedge Funds Weigh In On Ooma

Institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC purchased a new stake in Ooma in the fourth quarter worth about $802,000. SG Americas Securities LLC increased its holdings in Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock worth $180,000 after acquiring an additional 2,663 shares in the last quarter. Franklin Resources Inc. bought a new stake in Ooma during the 3rd quarter worth approximately $197,000. Barclays PLC lifted its holdings in 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Ooma by 0.9% in the third quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after purchasing an additional 4,683 shares in the last quarter. 80.42% of the stock is owned by 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.