Ooma, Inc. (NYSE:OOMA) Receives Average Recommendation of "Moderate Buy" from Brokerages

Ooma, Inc. (NYSE:OOMA - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.6250.

A number of equities research analysts have issued reports on the stock. Benchmark reissued a "buy" rating and issued a $20.00 price target on shares of Ooma in a report on Monday, August 25th. JMP Securities reissued a "market perform" rating on shares of Ooma in a report on Wednesday, August 27th.

Insiders Place Their Bets

In other Ooma news, CEO Eric B. Stang sold 19,265 shares of the firm's 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 owned 688,729 shares of the company's stock, valued at $8,850,167.65. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shigeyuki Hamamatsu sold 7,335 shares of the firm's stock in a transaction on 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 directly owned 191,972 shares in the company, valued at approximately $2,474,519.08. This trade represents a 3.68% decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ooma

Several institutional investors and hedge funds have recently modified their holdings of OOMA. New York State Teachers Retirement System lifted its position in shares of Ooma by 2,188.0% in 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 lifted its position in shares of Ooma by 225.2% in 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 lifted its position in shares of 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 purchasing an additional 4,110 shares during the period. Legal & General Group Plc lifted its position in shares of Ooma by 203.1% in 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 stake in shares of Ooma in the 2nd quarter worth about $132,000. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Stock Performance

OOMA stock opened at $11.25 on Tuesday. Ooma has a 52 week low of $10.94 and a 52 week high of $17.00. The firm's fifty day moving average is $12.12 and its 200 day moving average is $12.42. The firm has a market cap of $310.50 million, a P/E ratio of -160.69 and a beta of 1.28.

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.

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