Ooma (NYSE:OOMA) Upgraded by StockNews.com to “Strong-Buy” Rating

Ooma (NYSE:OOMA) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on the company. JMP Securities restated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. Northland Securities boosted their price objective on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday. B. Riley lifted their target price on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Lake Street Capital lifted their target price on Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. Finally, 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. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.60.

Ooma Trading Down 7.0 %

Shares of OOMA stock opened at $14.91 on Friday. The firm has a market capitalization of $399.59 million, a P/E ratio of -40.30 and a beta of 0.94. Ooma has a twelve month low of $6.50 and a twelve month high of $17.00. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $12.91 and its 200 day simple moving average is $10.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in shares of Ooma by 40.4% in the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 154,117 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ooma by 64.8% in the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after acquiring an additional 76,161 shares during the period. Vanguard Group Inc. boosted its stake in Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock valued at $10,802,000 after buying an additional 68,430 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ooma by 69.1% during 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 buying an additional 66,678 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Ooma by 4.1% during the second quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock valued at $8,393,000 after buying an additional 33,100 shares during the period. Institutional investors 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.