Ooma (NYSE:OOMA) Price Target Raised to $17.00 at Benchmark

Ooma (NYSE:OOMA) had its price target lifted by Benchmark from $15.00 to $17.00 in a report published on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. JMP Securities reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. B. Riley upped their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Ooma Price Performance

NYSE:OOMA opened at $14.92 on Tuesday. 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 company has a 50 day moving average price of $12.66 and a 200-day moving average price of $10.54. Ooma has a 1-year low of $6.50 and a 1-year high of $15.52. The firm has a market cap of $399.86 million, a price-to-earnings ratio of -78.53 and a beta of 0.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OOMA. Vanguard Group Inc. raised its position in shares of Ooma by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock valued at $10,802,000 after buying an additional 68,430 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Ooma by 40.4% in the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after acquiring an additional 154,117 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ooma by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after acquiring an additional 66,678 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Ooma in the 2nd quarter worth approximately $119,000. Finally, SG Americas Securities LLC acquired a new position in shares of Ooma during the 3rd quarter worth approximately $115,000. Hedge funds and other 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.