Ooma, Inc. (NYSE:OOMA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

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.

Shares of Ooma, Inc. (NYSE:OOMA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.6250.

A number of equities analysts recently commented on OOMA shares. Benchmark reissued a "buy" rating and set a $20.00 price target on shares of Ooma in a research note on Monday, August 25th. JMP Securities reaffirmed a "market perform" rating on shares of Ooma in a research note on Wednesday, August 27th.

Ooma Stock Down 2.2%

Ooma stock traded down $0.29 during midday trading on Friday, reaching $12.79. 226,195 shares of the stock traded hands, compared to its average volume of 216,034. The stock's fifty day moving average is $12.11 and its 200-day moving average is $12.63. Ooma has a 12 month low of $10.93 and a 12 month high of $17.00. The stock has a market cap of $353.00 million, a P/E ratio of -182.69 and a beta of 1.30.

Insider Activity

In other news, CFO Shigeyuki Hamamatsu sold 7,335 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $12.89, for a total value of $94,548.15. Following the completion of the sale, the chief financial officer directly owned 191,972 shares of the company's stock, valued at $2,474,519.08. This trade represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Galligan sold 12,407 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $12.43, for a total value of $154,219.01. Following the sale, the director directly owned 241,081 shares of the company's stock, valued at $2,996,636.83. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,007 shares of company stock valued at $496,322 in the last ninety days. Insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Ooma

A number of institutional investors and hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System increased its holdings in Ooma by 2,188.0% during the 2nd quarter. New York State Teachers Retirement System now owns 2,288 shares of the technology company's stock worth $30,000 after purchasing an additional 2,188 shares during the period. Tower Research Capital LLC TRC increased its holdings in Ooma by 225.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company's stock worth $47,000 after purchasing an additional 2,507 shares during the period. Lazard Asset Management LLC increased its holdings in Ooma by 503.1% during the 2nd quarter. Lazard Asset Management LLC now owns 4,927 shares of the technology company's stock worth $63,000 after purchasing an additional 4,110 shares during the period. Legal & General Group Plc increased its holdings in Ooma by 203.1% during the 2nd quarter. Legal & General Group Plc now owns 6,226 shares of the technology company's stock worth $80,000 after purchasing an additional 4,172 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in Ooma during the 2nd quarter worth $132,000. 80.42% of the stock is owned by institutional investors.

Ooma Company Profile

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.