Ooma, Inc. (NYSE:OOMA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.60.

OOMA has been the topic of several research analyst reports. Northland Securities boosted their target price on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. B. Riley boosted their target price on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research note on Monday, November 25th. Lake Street Capital boosted their target price on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, August 28th.

Ooma Price Performance

OOMA opened at $14.63 on Monday. 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 stock has a market capitalization of $395.01 million, a PE ratio of -39.54 and a beta of 0.94. The stock’s 50 day moving average price is $13.30 and its 200-day moving average price is $10.97.

Insider Buying and Selling

In other Ooma news, CFO Shigeyuki Hamamatsu sold 35,313 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.51, for a total value of $547,704.63. Following the sale, the chief financial officer now directly owns 165,301 shares of the company’s stock, valued at approximately $2,563,818.51. The trade was a 17.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric B. Stang sold 61,580 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the completion of the sale, the chief executive officer now directly owns 1,245,665 shares in the company, valued at $18,809,541.50. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,633 shares of company stock valued at $2,197,295 over the last ninety days. Company insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Ooma

Several hedge funds have recently added to or reduced their stakes in OOMA. Vanguard Group Inc. boosted its holdings in Ooma by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after acquiring an additional 68,430 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Ooma by 64.8% during the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock valued at $1,923,000 after purchasing an additional 76,161 shares in the last quarter. Bailard Inc. bought a new position in shares of Ooma during the second quarter valued at $108,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ooma by 33.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company’s stock valued at $268,000 after purchasing an additional 6,732 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Ooma by 17.1% during the second quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock valued at $374,000 after purchasing an additional 5,494 shares in the last quarter. 80.42% of the stock is owned by institutional investors.

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.