Lake Street Capital Has Lowered Expectations for Ooma (NYSE:OOMA) Stock Price

Ooma (NYSE:OOMA) had its price objective cut by Lake Street Capital from $18.00 to $17.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms also recently weighed in on OOMA. Benchmark upped their target price on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Northland Securities upped their target price on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, B. Riley upped their target price on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ooma currently has an average rating of “Buy” and an average price target of $17.63.

Ooma Stock Performance

Shares of NYSE OOMA opened at $14.03 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $14.39 and a 200-day simple moving average of $13.08. The company has a market cap of $378.76 million, a PE ratio of -37.91 and a beta of 0.96. Ooma has a 12-month low of $6.50 and a 12-month high of $17.00.

Insider Activity

In other news, Director Andrew H. Galligan sold 14,824 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total transaction of $215,837.44. Following the completion of the sale, the director now owns 241,932 shares in the company, valued at approximately $3,522,529.92. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Pearce sold 3,700 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.54, for a total transaction of $57,498.00. Following the sale, the director now directly owns 163,353 shares in the company, valued at approximately $2,538,505.62. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,295 shares of company stock worth $1,422,380. Insiders own 9.76% of the company’s stock.

Institutional Trading of Ooma

Several large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in Ooma by 98.1% during the 4th quarter. Mackenzie Financial Corp now owns 47,109 shares of the technology company’s stock valued at $662,000 after purchasing an additional 23,331 shares during the period. Connective Capital Management LLC acquired a new stake in Ooma during the 4th quarter valued at $431,000. Squarepoint Ops LLC acquired a new stake in Ooma during the 4th quarter valued at $186,000. Two Sigma Investments LP raised its stake in Ooma by 16.9% during the 4th quarter. Two Sigma Investments LP now owns 100,482 shares of the technology company’s stock valued at $1,413,000 after purchasing an additional 14,530 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Ooma by 85.8% during the 4th quarter. Two Sigma Advisers LP now owns 134,500 shares of the technology company’s stock valued at $1,891,000 after purchasing an additional 62,100 shares during the period. 80.42% of the stock is owned by institutional investors and hedge funds.

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.