Ooma, Inc. (NYSE:OOMA) Receives $16.60 Consensus PT from Brokerages

Shares of Ooma, Inc. (NYSE:OOMA) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.60.

A number of equities research analysts have recently weighed in on the stock. Lake Street Capital boosted their price objective on shares of Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. B. Riley upped 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. JMP Securities reiterated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Northland Securities lifted their price target on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th.

Insider Buying and Selling

In other Ooma news, CEO Eric B. Stang sold 39,458 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $15.24, for a total value of $601,339.92. Following the completion of the transaction, the chief executive officer now directly owns 1,275,183 shares in the company, valued at approximately $19,433,788.92. This represents a 3.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James A. Gustke sold 3,582 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $17.00, for a total transaction of $60,894.00. Following the completion of the sale, the senior vice president now directly owns 27,675 shares of the company’s stock, valued at approximately $470,475. This represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,620 shares of company stock valued at $1,592,092 over the last ninety days. 9.76% of the stock is owned by insiders.

Institutional Trading of Ooma

A number of hedge funds have recently modified their holdings of the business. Virtus Investment Advisers Inc. bought a new stake in shares of Ooma in the 3rd quarter worth approximately $98,000. Bailard Inc. bought a new stake in Ooma in the second quarter worth $108,000. SG Americas Securities LLC bought a new position in shares of Ooma during the third quarter valued at $115,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ooma in the 2nd quarter worth about $119,000. Finally, Paloma Partners Management Co bought a new position in Ooma in the 3rd quarter worth about $126,000. Institutional investors own 80.42% of the company’s stock.

Ooma Stock Performance

Shares of NYSE OOMA opened at $15.37 on Monday. The stock’s 50-day moving average is $13.15 and its 200 day moving average is $10.85. The stock has a market cap of $411.92 million, a price-to-earnings ratio of -41.54 and a beta of 0.94. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10.

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.