Benchmark Forecasts Strong Price Appreciation for Ooma (NYSE:OOMA) Stock

Ooma (NYSE:OOMA - Get Free Report) had its price target increased by investment analysts at Benchmark from $17.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Benchmark's target price indicates a potential upside of 42.57% from the stock's previous close.

Several other research analysts have also commented on the company. Northland Securities lifted their target price on Ooma from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, December 5th. Lake Street Capital lifted their target price on Ooma from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. StockNews.com upgraded Ooma from a "buy" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, B. Riley lifted their price target on Ooma from $14.50 to $15.50 and gave the company a "buy" rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $17.63.

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Ooma Trading Up 2.2 %

Shares of OOMA stock traded up $0.31 during trading hours on Wednesday, hitting $14.03. 214,028 shares of the company were exchanged, compared to its average volume of 113,272. The company has a quick ratio of 0.82, a current ratio of 1.08 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 firm has a fifty day moving average of $14.39 and a 200 day moving average of $13.15.

Insiders Place Their Bets

In related news, CEO Eric B. Stang sold 39,458 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.24, for a total transaction of $601,339.92. Following the completion of the transaction, the chief executive officer now owns 1,275,183 shares of the company's stock, valued at approximately $19,433,788.92. The trade was 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 hyperlink. Also, Director Andrew H. Galligan sold 14,824 shares of the business's stock in a transaction dated 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 directly 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 93,295 shares of company stock valued at $1,422,380 over the last quarter. Insiders own 9.76% of the company's stock.

Hedge Funds Weigh In On Ooma

Several large investors have recently made changes to their positions in OOMA. Quantbot Technologies LP acquired a new position in shares of Ooma during the 4th quarter worth about $92,000. Virtus Investment Advisers Inc. acquired a new position in Ooma in the 3rd quarter valued at approximately $98,000. Paloma Partners Management Co acquired a new position in Ooma in the 3rd quarter valued at approximately $126,000. EntryPoint Capital LLC acquired a new position in Ooma in the 4th quarter valued at approximately $153,000. Finally, Gladius Capital Management LP acquired a new position in Ooma in the 3rd quarter valued at approximately $165,000. Institutional investors and hedge funds 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.