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

Ooma, Inc. (NYSE:OOMA - Get Free Report) has received an average recommendation of "Moderate Buy" from the five research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.63.

A number of research analysts recently weighed in on the stock. Benchmark raised their price target on shares of Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Lake Street Capital reduced their target price on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th.

Insider Buying and Selling at Ooma

In other news, CAO Namrata Sabharwal sold 3,428 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $13.46, for a total value of $46,140.88. Following the completion of the sale, the chief accounting officer now directly owns 80,931 shares in the company, valued at approximately $1,089,331.26. The trade was a 4.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ooma

A number of hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new stake in Ooma during the 1st quarter valued at $332,000. Acadian Asset Management LLC grew its position in shares of Ooma by 39.8% in the 1st quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company's stock worth $12,344,000 after buying an additional 268,636 shares during the period. Jane Street Group LLC grew its position in Ooma by 162.6% during the 1st quarter. Jane Street Group LLC now owns 34,227 shares of the technology company's stock valued at $448,000 after purchasing an additional 21,192 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Ooma by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company's stock valued at $3,254,000 after buying an additional 11,300 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock valued at $4,144,000 after buying an additional 142,220 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

Ooma Stock Up 1.5%

OOMA traded up $0.20 during midday trading on Monday, reaching $13.17. 119,647 shares of the company were exchanged, compared to its average volume of 123,253. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The company's fifty day moving average price is $12.72 and its 200 day moving average price is $13.77. Ooma has a one year low of $7.83 and a one year high of $17.00. The company has a market cap of $362.92 million, a price-to-earnings ratio of -35.59 and a beta of 1.21.

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.