Ooma, Inc. (NYSE:OOMA) Receives $17.88 Consensus Target Price from Brokerages

Ooma, Inc. (NYSE:OOMA) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $17.8750.

A number of equities research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, August 27th. Lake Street Capital boosted their price objective on Ooma from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Ooma in a report on Monday, August 25th.

Insider Buying and Selling at Ooma

In other Ooma news, CFO Shigeyuki Hamamatsu sold 7,335 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $12.89, for a total transaction of $94,548.15. Following the sale, the chief financial officer directly owned 191,972 shares of the company’s stock, valued at approximately $2,474,519.08. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric B. Stang sold 19,265 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.85, for a total transaction of $247,555.25. Following the completion of the transaction, the chief executive officer owned 688,729 shares in the company, valued at approximately $8,850,167.65. The trade was a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Ooma

A number of institutional investors have recently modified their holdings of OOMA. New York State Teachers Retirement System boosted its stake in Ooma by 2,188.0% in the second quarter. New York State Teachers Retirement System now owns 2,288 shares of the technology company’s stock valued at $30,000 after acquiring an additional 2,188 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Ooma by 465.3% in the 3rd quarter. Versant Capital Management Inc now owns 2,589 shares of the technology company’s stock worth $31,000 after purchasing an additional 2,131 shares during the last quarter. CWM LLC boosted its position in Ooma by 50.5% during the 3rd quarter. CWM LLC now owns 3,022 shares of the technology company’s stock valued at $36,000 after purchasing an additional 1,014 shares during the period. Tower Research Capital LLC TRC grew its stake in Ooma by 225.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company’s stock worth $47,000 after buying an additional 2,507 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Ooma by 503.1% during the 2nd quarter. Lazard Asset Management LLC now owns 4,927 shares of the technology company’s stock worth $63,000 after buying an additional 4,110 shares during the last quarter. Institutional investors own 80.42% of the company’s stock.

Ooma Price Performance

NYSE OOMA opened at $11.75 on Friday. The company has a market capitalization of $324.41 million, a price-to-earnings ratio of -167.89 and a beta of 1.32. Ooma has a 12 month low of $10.89 and a 12 month high of $17.00. The company’s fifty day moving average price is $11.91 and its two-hundred day moving average price is $12.30.

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.