Ooma (NYSE:OOMA) Price Target Raised to $18.00

Ooma (NYSE:OOMA) had its price target lifted by Lake Street Capital from $14.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price suggests a potential upside of 20.72% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. JMP Securities reissued a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. Northland Securities increased their price target on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday. B. Riley lifted their price target on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Benchmark increased their price objective on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $16.60.

Ooma Trading Down 7.0 %

Shares of Ooma stock opened at $14.91 on Thursday. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a market cap of $399.59 million, a P/E ratio of -78.47 and a beta of 0.94. The stock’s 50 day simple moving average is $12.91 and its 200-day simple moving average is $10.66.

Hedge Funds Weigh In On Ooma

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in Ooma by 2.1% in the third quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock valued at $462,000 after purchasing an additional 818 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Ooma by 0.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock worth $2,047,000 after purchasing an additional 1,364 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ooma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock valued at $807,000 after buying an additional 3,138 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ooma by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after acquiring an additional 4,683 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Ooma by 17.1% in the 2nd quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock valued at $374,000 after acquiring an additional 5,494 shares during the last quarter. 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.