Ooma, Inc. (NYSE:OOMA) Receives $17.63 Average Price Target from Brokerages

Shares of Ooma, Inc. (NYSE:OOMA) have earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $17.6250.

Several research firms have recently commented on OOMA. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, August 27th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Ooma in a research report on Monday, August 25th.

Ooma Trading Down 1.0%

NYSE:OOMA opened at $11.10 on Tuesday. The company has a 50-day moving average price of $12.12 and a 200-day moving average price of $12.39. Ooma has a 12 month low of $10.94 and a 12 month high of $17.00. The stock has a market cap of $306.36 million, a price-to-earnings ratio of -158.55 and a beta of 1.28.

Insider Activity

In other Ooma news, CFO Shigeyuki Hamamatsu sold 7,335 shares of Ooma stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $12.89, for a total value of $94,548.15. Following the completion of the transaction, the chief financial officer directly owned 191,972 shares of the company’s stock, valued at approximately $2,474,519.08. The trade was a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric B. Stang sold 19,265 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $12.85, for a total transaction of $247,555.25. Following the transaction, the chief executive officer directly owned 688,729 shares of the company’s stock, valued at $8,850,167.65. The trade was a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ooma

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in shares of Ooma by 50.5% in the third quarter. CWM LLC now owns 3,022 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,014 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Ooma by 82.3% in the third quarter. Assenagon Asset Management S.A. now owns 264,347 shares of the technology company’s stock valued at $3,170,000 after acquiring an additional 119,339 shares during the period. Squarepoint Ops LLC raised its stake in shares of Ooma by 67.0% in the second quarter. Squarepoint Ops LLC now owns 73,564 shares of the technology company’s stock valued at $949,000 after acquiring an additional 29,507 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Ooma by 225.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company’s stock valued at $47,000 after acquiring an additional 2,507 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Ooma by 503.1% in the 2nd quarter. Lazard Asset Management LLC now owns 4,927 shares of the technology company’s stock worth $63,000 after buying an additional 4,110 shares during the period. 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.