Ooma, Inc. (NYSE:OOMA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Ooma, Inc. (NYSE:OOMA) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.60.

OOMA has been the topic of a number of recent analyst reports. Lake Street Capital lifted their target price on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Benchmark increased their price objective on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Northland Securities raised their target price on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, B. Riley raised their price objective on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th.

Ooma Trading Up 0.6 %

Shares of OOMA opened at $14.14 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.08. Ooma has a 52-week low of $6.50 and a 52-week high of $17.00. The firm has a market cap of $381.78 million, a price-to-earnings ratio of -38.22 and a beta of 0.94. The business’s fifty day moving average is $14.00 and its 200-day moving average is $11.48.

Insider Buying and Selling

In other news, SVP James A. Gustke sold 3,582 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $17.00, for a total value of $60,894.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Galligan sold 14,824 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the sale, the director now owns 241,932 shares in the company, valued at approximately $3,522,529.92. The trade was a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,457 shares of company stock valued at $2,413,132 in the last three months. Insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Ooma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Ooma by 33.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company’s stock valued at $268,000 after acquiring an additional 6,732 shares during the period. Rhumbline Advisers boosted its position in shares of Ooma by 17.1% during the 2nd quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock worth $374,000 after purchasing an additional 5,494 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Ooma by 40.4% during the 2nd 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 in the last quarter. Perritt Capital Management Inc increased its position in Ooma by 28.0% in the 2nd quarter. Perritt Capital Management Inc now owns 32,000 shares of the technology company’s stock valued at $318,000 after buying an additional 7,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Ooma by 4.1% during the 2nd quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock worth $8,393,000 after buying an additional 33,100 shares during the period. 80.42% of the stock is currently owned by institutional investors.

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.