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

Shares of Ooma, Inc. (NYSE:OOMA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.63.

Several equities research analysts recently commented on OOMA shares. Lake Street Capital dropped their target price on Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Benchmark upped their price objective on Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, March 5th.

Ooma Price Performance

Shares of OOMA stock traded up $0.28 during midday trading on Friday, reaching $12.46. 119,173 shares of the company were exchanged, compared to its average volume of 125,126. The company's 50 day moving average price is $13.69 and its two-hundred day moving average price is $13.62. The company has a market cap of $343.76 million, a P/E ratio of -33.66 and a beta of 1.06. Ooma has a 12 month low of $6.50 and a 12 month high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08.

Institutional Investors Weigh In On Ooma

Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. purchased a new stake in Ooma during the fourth quarter valued at about $363,000. State Street Corp lifted its position in shares of Ooma by 2.9% in the 3rd quarter. State Street Corp now owns 475,737 shares of the technology company's stock valued at $5,419,000 after acquiring an additional 13,240 shares in the last quarter. Inspire Investing LLC acquired a new position in Ooma in the 4th quarter worth approximately $802,000. Barclays PLC grew its position in Ooma by 32.7% during the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company's stock worth $1,128,000 after purchasing an additional 24,402 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Ooma in the third quarter valued at $197,000. 80.42% of the stock is owned by hedge funds and other institutional investors.

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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.