Brokerages Set Ooma, Inc. (NYSE:OOMA) Target Price at $16.60

Shares of Ooma, Inc. (NYSE:OOMA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.60.

OOMA has been the subject of several research reports. Northland Securities boosted their price target on shares of Ooma from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Thursday, December 5th. Benchmark boosted their target price on Ooma from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. B. Riley increased their price target on Ooma from $14.50 to $15.50 and gave the company a "buy" rating in a research report on Monday, November 25th. StockNews.com raised Ooma from a "buy" rating to a "strong-buy" rating in a research report on Friday, December 6th. Finally, Lake Street Capital raised their target price on shares of Ooma from $14.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, December 5th.

Ooma Stock Up 0.6 %

Shares of NYSE OOMA traded up $0.08 during midday trading on Friday, hitting $14.22. The company's stock had a trading volume of 57,150 shares, compared to its average volume of 68,225. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.83. The firm has a market capitalization of $383.94 million, a price-to-earnings ratio of -38.43 and a beta of 0.94. The business's fifty day simple moving average is $14.00 and its two-hundred day simple moving average is $11.48. Ooma has a 1 year low of $6.50 and a 1 year high of $17.00.

Insider Activity at Ooma

In related news, SVP James A. Gustke sold 3,582 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $17.00, for a total value of $60,894.00. Following the completion of the sale, the senior vice president now directly owns 27,675 shares of the company's stock, valued at $470,475. This represents a 11.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Galligan sold 14,824 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total value of $215,837.44. Following the transaction, the director now owns 241,932 shares in the company, valued at $3,522,529.92. This represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,457 shares of company stock valued at $2,413,132 over the last three months. 9.76% of the stock is owned by corporate insiders.

Institutional Trading of Ooma

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in Ooma by 2.1% in the third quarter. Jane Street Group LLC now owns 40,547 shares of the technology company's stock valued at $462,000 after purchasing an additional 818 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Ooma by 0.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company's stock valued at $2,047,000 after acquiring an additional 1,364 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Ooma by 4.6% during the 3rd 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 during the last quarter. Geode Capital Management LLC lifted its position in Ooma by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company's stock worth $6,226,000 after acquiring an additional 4,683 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Ooma by 17.1% in the 2nd quarter. Rhumbline Advisers now owns 37,636 shares of the technology company's stock valued at $374,000 after purchasing an additional 5,494 shares during the last quarter. 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.