Lazard Asset Management LLC Invests $1.42 Million in Ooma, Inc. $OOMA

Key Points

• Lazard Asset Management bought 97,265 Ooma shares worth approximately $1.42 million, while institutional investors collectively own 80.42% of the company.
• Ooma exceeded quarterly expectations, reporting $0.35 in adjusted EPS versus a $0.32 consensus estimate and revenue of $81.15 million versus $79.84 million expected.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $22.33; however, insiders sold 118,652 shares worth about $2.23 million over the past 90 days.

Lazard Asset Management LLC purchased a new position in shares of Ooma, Inc. (NYSE:OOMA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 97,265 shares of the technology company's stock, valued at approximately $1,415,000. Lazard Asset Management LLC owned 0.35% of Ooma at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Star Investment Management Corp. purchased a new position in Ooma during the 1st quarter worth $873,000. Hsbc Holdings PLC boosted its holdings in shares of Ooma by 107.3% in the fourth quarter. Hsbc Holdings PLC now owns 96,830 shares of the technology company's stock valued at $1,132,000 after acquiring an additional 50,114 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Ooma by 12.2% during the first quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company's stock worth $13,273,000 after acquiring an additional 99,100 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Ooma during the first quarter worth about $5,847,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in Ooma during the fourth quarter worth about $1,877,000. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Ooma Price Performance

Shares of NYSE OOMA opened at $21.59 on Wednesday. The stock has a market cap of $593.84 million, a price-to-earnings ratio of 67.48 and a beta of 1.19. Ooma, Inc. has a 52 week low of $9.79 and a 52 week high of $22.72. The company's 50-day moving average price is $19.08 and its 200 day moving average price is $16.03. 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 (NYSE:OOMA - Get Free Report) last posted its earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share 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 firm 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 forecast that Ooma, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OOMA has been the topic of a number of analyst reports. UBS Group set a $24.00 price objective on Ooma in a report on Wednesday, May 27th. B. Riley Financial reissued a "buy" rating on shares of Ooma in a research note on Monday, May 18th. Alliance Global Partners reissued a "buy" rating on shares of Ooma in a report on Wednesday, May 27th. Lake Street Capital lifted their price target on Ooma from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Finally, Citigroup reaffirmed a "market perform" rating on shares of Ooma in a report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ooma presently has an average rating of "Moderate Buy" and a consensus target price of $22.33.

Insider Buying and Selling at Ooma

In related news, Director William D. Pearce sold 3,000 shares of Ooma stock in a transaction that occurred 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 completion of the transaction, the director directly owned 181,652 shares in the company, valued at $3,266,102.96. The trade was a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric B. Stang sold 27,666 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $18.50, for a total value of $511,821.00. Following the completion of the sale, the chief executive officer directly owned 818,718 shares in the company, valued at approximately $15,146,283. The trade was a 3.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 118,652 shares of company stock worth $2,225,186. 9.90% of the stock is currently owned by insiders.

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.

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