Ooma, Inc. (NYSE:OOMA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ooma, Inc. (NYSE:OOMA) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.63.

Several equities research analysts have commented on OOMA shares. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Benchmark upped their target price on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Lake Street Capital decreased their price target on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Northland Securities boosted their price target on Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th.

Hedge Funds Weigh In On Ooma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Ooma by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company’s stock valued at $18,822,000 after buying an additional 71,247 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ooma by 0.4% in the 4th quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company’s stock valued at $11,615,000 after acquiring an additional 3,200 shares during the period. Geode Capital Management LLC lifted its holdings in Ooma by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company’s stock valued at $7,794,000 after purchasing an additional 7,693 shares during the last quarter. State Street Corp lifted its holdings in Ooma by 2.9% during the 3rd 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 last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Ooma by 284.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company’s stock worth $3,557,000 after purchasing an additional 187,245 shares during the period. Institutional investors own 80.42% of the company’s stock.

Ooma Stock Performance

Shares of OOMA stock opened at $13.93 on Wednesday. Ooma has a 12 month low of $6.50 and a 12 month high of $17.00. The company’s fifty day simple moving average is $14.31 and its 200-day simple moving average is $13.50. The firm has a market cap of $376.11 million, a PE ratio of -37.65 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.

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.