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

Key Points

• Ooma, Inc. has received a consensus recommendation of "Moderate Buy" from five brokerages, with four issuing buy ratings and one a hold rating.
• The average twelve-month price target for Ooma's stock is $17.6250, with Benchmark setting a specific target of $20.00 in a recent report.
• Insider transactions revealed that CFO Shigeyuki Hamamatsu and CEO Eric B. Stang sold shares, leading to a 3.68% and 2.72% decrease in their ownership positions, respectively.

Ooma, Inc. (NYSE:OOMA - Get Free Report) has been given an average rating of "Moderate Buy" by the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.6250.

Several research analysts have recently weighed in on the stock. JMP Securities reiterated a "market perform" rating on shares of Ooma in a research note on Wednesday, August 27th. Benchmark restated a "buy" rating and set a $20.00 target price on shares of Ooma in a research note on Monday, August 25th.

Ooma Trading Up 2.7%

NYSE:OOMA traded up $0.35 during trading hours on Friday, reaching $13.15. The company had a trading volume of 169,513 shares, compared to its average volume of 219,126. Ooma has a 52 week low of $10.93 and a 52 week high of $17.00. The firm has a market cap of $362.94 million, a price-to-earnings ratio of -187.83 and a beta of 1.30. The firm's 50 day moving average price is $12.13 and its 200-day moving average price is $12.60.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Ooma

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Ooma by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company's stock valued at $18,158,000 after purchasing an additional 48,459 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Ooma by 8.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,021,104 shares of the technology company's stock valued at $13,157,000 after purchasing an additional 77,133 shares during the last quarter. Geode Capital Management LLC grew its holdings in Ooma by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 588,098 shares of the technology company's stock valued at $7,588,000 after purchasing an additional 13,258 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Ooma by 12.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 437,732 shares of the technology company's stock valued at $5,647,000 after purchasing an additional 49,592 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Ooma by 81.6% during the 1st quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock valued at $4,144,000 after purchasing an additional 142,220 shares during the last quarter. 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.