Brokerages Set Ooma, Inc. (NYSE:OOMA) Price Target at $16.60

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.60.

A number of research analysts recently issued reports on OOMA shares. B. Riley boosted their price objective on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. Northland Securities lifted their price target on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Benchmark increased their price objective on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Lake Street Capital increased their target price on Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th.

Ooma Trading Up 0.6 %

NYSE OOMA opened at $14.22 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04. Ooma has a 12 month low of $6.50 and a 12 month high of $17.00. The company has a market capitalization of $383.94 million, a PE ratio of -38.43 and a beta of 0.96. The stock has a 50-day simple moving average of $14.05 and a 200 day simple moving average of $11.56.

Insiders Place Their Bets

In other Ooma news, CEO Eric B. Stang sold 61,580 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.10, for a total transaction of $929,858.00. Following the transaction, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at $18,809,541.50. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew H. Galligan sold 14,824 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the completion of the sale, the director now owns 241,932 shares in the company, valued at approximately $3,522,529.92. This trade represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,457 shares of company stock valued at $2,413,132 in the last three months. 9.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Ooma

A number of hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. bought a new stake in Ooma in the 3rd quarter valued at $197,000. Barclays PLC grew its position in shares of Ooma by 32.7% during the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock worth $1,128,000 after purchasing an additional 24,402 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ooma by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after purchasing an additional 4,683 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Ooma during the third quarter worth approximately $185,000. Finally, Jane Street Group LLC raised its position in shares of Ooma by 2.1% in the third quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock valued at $462,000 after buying an additional 818 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

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.