Analysts Set Ooma, Inc. (NYSE:OOMA) Price Target at $17.63

Shares of Ooma, Inc. (NYSE:OOMA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.63.

A number of analysts recently commented on OOMA shares. StockNews.com upgraded Ooma from a "buy" rating to a "strong-buy" rating in a report on Friday, December 6th. Benchmark lifted their target price on Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Lake Street Capital reduced their price target on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. B. Riley lifted their price objective on shares of Ooma from $14.50 to $15.50 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Northland Securities increased their target price on shares of Ooma from $16.00 to $18.00 and gave the company an "outperform" rating in a research report on Thursday, December 5th.

Ooma Stock Down 2.4 %

NYSE:OOMA traded down $0.32 on Wednesday, hitting $13.30. The stock had a trading volume of 218,985 shares, compared to its average volume of 116,123. Ooma has a 1 year low of $6.50 and a 1 year high of $17.00. The firm's fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $13.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $359.02 million, a P/E ratio of -35.94 and a beta of 0.99.

Remove Ads

Institutional Trading of Ooma

A number of hedge funds have recently modified their holdings of OOMA. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ooma by 69.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company's stock worth $1,859,000 after buying an additional 66,678 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ooma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company's stock valued at $807,000 after acquiring an additional 3,138 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ooma in the 3rd quarter worth approximately $280,000. BNP Paribas Financial Markets boosted its stake in Ooma by 24.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 42,284 shares of the technology company's stock valued at $482,000 after purchasing an additional 8,439 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in Ooma by 38.6% during the 3rd quarter. Martingale Asset Management L P now owns 63,127 shares of the technology company's stock valued at $719,000 after purchasing an additional 17,590 shares during the last quarter. Institutional investors 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.