Brokerages Set Ooma, Inc. (NYSE:OOMA) Target Price at $17.63

Shares of Ooma, Inc. (NYSE:OOMA) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.63.

OOMA has been the subject of a number of research reports. Benchmark increased their target price on shares of Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Northland Securities increased their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. B. Riley boosted their target price on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Lake Street Capital cut their price objective on Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th.

Ooma Price Performance

Shares of OOMA stock opened at $13.30 on Wednesday. The business has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $13.45. The company has a market cap of $359.02 million, a P/E ratio of -35.94 and a beta of 0.99. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. Ooma has a twelve month low of $6.50 and a twelve month high of $17.00.

Hedge Funds Weigh In On Ooma

Large investors have recently modified their holdings of the business. State Street Corp increased its holdings in Ooma by 2.9% in the third quarter. State Street Corp now owns 475,737 shares of the technology company’s stock valued at $5,419,000 after purchasing an additional 13,240 shares during the period. Walleye Capital LLC grew its position in shares of Ooma by 101.6% in the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock valued at $627,000 after buying an additional 27,727 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Ooma in the fourth quarter valued at about $802,000. Barclays PLC raised its position in shares of Ooma by 32.7% during the third quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock worth $1,128,000 after acquiring an additional 24,402 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ooma by 69.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after acquiring an additional 66,678 shares during the period. Institutional investors own 80.42% of the company’s stock.

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.