Ooma (NYSE:OOMA) Price Target Raised to $20.00

Ooma (NYSE:OOMA) had its price target upped by Benchmark from $17.00 to $20.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Northland Securities increased their target price on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Lake Street Capital increased their price objective on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, B. Riley upped their price target on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.00.

Ooma Price Performance

OOMA opened at $14.04 on Wednesday. Ooma has a fifty-two week low of $6.50 and a fifty-two week high of $17.00. The firm has a 50-day moving average of $14.42 and a 200 day moving average of $13.07. 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 firm has a market cap of $379.16 million, a P/E ratio of -37.95 and a beta of 0.96.

Insiders Place Their Bets

In related news, CEO Eric B. Stang sold 39,458 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $15.24, for a total transaction of $601,339.92. Following the completion of the transaction, the chief executive officer now owns 1,275,183 shares of the company’s stock, valued at approximately $19,433,788.92. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew H. Galligan sold 14,824 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total transaction of $215,837.44. Following the completion of the sale, the director now owns 241,932 shares in the company, valued at $3,522,529.92. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,875 shares of company stock worth $2,352,238 over the last 90 days. Corporate insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Perkins Capital Management Inc. boosted its stake in Ooma by 8.6% during the third quarter. Perkins Capital Management Inc. now owns 168,100 shares of the technology company’s stock valued at $1,915,000 after buying an additional 13,300 shares during the period. Bard Associates Inc. bought a new stake in shares of Ooma during the 3rd quarter valued at about $232,000. Gladius Capital Management LP purchased a new position in shares of Ooma during the third quarter worth about $165,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ooma by 69.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after purchasing an additional 66,678 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Ooma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock valued at $807,000 after purchasing an additional 3,138 shares in the last quarter. Institutional investors 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.