Brokerages Set Ooma, Inc. (NYSE:OOMA) Target Price at $22.33

Ooma, Inc. (NYSE:OOMA) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.3333.

OOMA has been the subject of a number of research analyst reports. B. Riley Financial reissued a “buy” rating on shares of Ooma in a report on Monday, May 18th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research report on Wednesday, May 27th. UBS Group set a $24.00 target price on Ooma in a research report on Wednesday, May 27th. Finally, Lake Street Capital boosted their target price on Ooma from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th.

Insider Activity at Ooma

In other Ooma news, SVP Jenny C. Yeh sold 2,481 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $20.03, for a total value of $49,694.43. Following the sale, the senior vice president owned 262,134 shares in the company, valued at $5,250,544.02. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William D. Pearce sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.98, for a total transaction of $53,940.00. Following the sale, the director directly owned 181,652 shares in the company, valued at approximately $3,266,102.96. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 116,895 shares of company stock worth $2,186,532 in the last ninety days. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Ooma

Several hedge funds have recently modified their holdings of OOMA. Essential Partners LLC boosted its holdings in Ooma by 8.3% in the first quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock valued at $119,000 after acquiring an additional 626 shares during the last quarter. Meeder Asset Management Inc. increased its position in Ooma by 28.3% during the 1st quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company’s stock valued at $49,000 after purchasing an additional 740 shares during the period. Royal Bank of Canada raised its holdings in Ooma by 24.1% during the 4th quarter. Royal Bank of Canada now owns 4,466 shares of the technology company’s stock worth $53,000 after purchasing an additional 867 shares during the last quarter. Man Group plc raised its holdings in Ooma by 5.1% during the 4th quarter. Man Group plc now owns 18,073 shares of the technology company’s stock worth $212,000 after purchasing an additional 880 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Ooma by 1.0% in the 4th quarter. GSA Capital Partners LLP now owns 111,522 shares of the technology company’s stock worth $1,308,000 after purchasing an additional 1,067 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Stock Performance

NYSE OOMA opened at $20.63 on Thursday. The firm’s 50 day simple moving average is $18.59 and its 200 day simple moving average is $15.21. The firm has a market capitalization of $567.24 million, a price-to-earnings ratio of 64.46 and a beta of 1.20. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. Ooma has a 1 year low of $9.79 and a 1 year high of $21.96.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Ooma had a net margin of 3.17% and a return on equity of 20.21%. The business had revenue of $81.15 million during the quarter, compared to the consensus estimate of $79.84 million. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. As a group, research analysts expect that Ooma will post 0.8 earnings per share for the current fiscal year.

About Ooma

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.