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

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.60.

A number of equities analysts have recently weighed in on OOMA shares. Northland Securities boosted their price target on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. 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. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. B. Riley boosted their price objective on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Benchmark raised their target price on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd.

Ooma Stock Down 0.7 %

Ooma stock opened at $13.86 on Friday. The firm has a market capitalization of $374.22 million, a price-to-earnings ratio of -37.46 and a beta of 0.96. The company’s 50 day simple moving average is $14.11 and its 200 day simple moving average is $11.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.83. Ooma has a fifty-two week low of $6.50 and a fifty-two week high of $17.00.

Insider Buying and Selling at Ooma

In other news, Director Andrew H. Galligan sold 14,824 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total transaction of $215,837.44. Following the completion of the transaction, the director now directly owns 241,932 shares in the company, valued at $3,522,529.92. This represents a 5.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of Ooma stock in a transaction dated Friday, December 6th. The shares were 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 approximately $18,809,541.50. This represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,457 shares of company stock worth $2,413,132. Corporate insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Ooma

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in Ooma by 4.1% during the second quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock worth $8,393,000 after acquiring an additional 33,100 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ooma by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock valued at $6,226,000 after purchasing an additional 4,683 shares during the period. Acadian Asset Management LLC lifted its stake 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 purchasing an additional 154,117 shares during the last quarter. State Street Corp grew its holdings in Ooma by 2.9% during the third quarter. State Street Corp now owns 475,737 shares of the technology company’s stock worth $5,419,000 after purchasing an additional 13,240 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Ooma by 0.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock worth $2,047,000 after buying an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

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.