Lake Street Capital Lowers Ooma (NYSE:OOMA) Price Target to $17.00

Ooma (NYSE:OOMA - Get Free Report) had its price target reduced by stock analysts at Lake Street Capital from $18.00 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Lake Street Capital's price target indicates a potential upside of 21.19% from the company's previous close.

Several other equities analysts have also commented on the company. B. Riley raised their price objective on Ooma from $14.50 to $15.50 and gave the company a "buy" rating in a research report on Monday, November 25th. Benchmark lifted their price target on shares of Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday. StockNews.com raised shares of Ooma from a "buy" rating to a "strong-buy" rating in a research note on Friday, December 6th. Finally, Northland Securities raised their target price on shares of Ooma from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $17.63.

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Ooma Stock Up 2.2 %

Shares of OOMA stock traded up $0.31 during midday trading on Wednesday, reaching $14.03. 214,028 shares of the stock were exchanged, compared to its average volume of 113,272. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Ooma has a 1 year low of $6.50 and a 1 year high of $17.00. The firm has a market cap of $378.76 million, a PE ratio of -37.91 and a beta of 0.99. The company's 50 day moving average is $14.39 and its two-hundred day moving average is $13.18.

Insider Transactions at Ooma

In other Ooma news, CEO Eric B. Stang sold 39,458 shares of Ooma stock in a transaction on Monday, December 9th. The stock was sold at an average price of $15.24, for a total value of $601,339.92. Following the completion of the sale, the chief executive officer now owns 1,275,183 shares of the company's stock, valued at approximately $19,433,788.92. This trade represents a 3.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew H. Galligan sold 14,824 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 241,932 shares of the company's stock, 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 a total of 93,295 shares of company stock valued at $1,422,380 in the last quarter. 9.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Ooma

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of Ooma during the 4th quarter valued at about $92,000. Virtus Investment Advisers Inc. bought a new position in Ooma during the third quarter valued at approximately $98,000. Paloma Partners Management Co purchased a new stake in Ooma in the third quarter worth approximately $126,000. EntryPoint Capital LLC bought a new stake in Ooma in the 4th quarter worth approximately $153,000. Finally, Gladius Capital Management LP bought a new stake in Ooma in the 3rd quarter worth approximately $165,000. 80.42% of the stock is currently owned by institutional investors.

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.