Benchmark Issues Positive Forecast for Ooma (NYSE:OOMA) Stock Price

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

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

Ooma Price Performance

Shares of NYSE OOMA opened at $14.04 on Wednesday. The company has a market capitalization of $379.16 million, a PE ratio of -37.95 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. Ooma has a twelve month low of $6.50 and a twelve month high of $17.00. The firm has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $13.07.

Insider Activity

In other Ooma news, Director William D. Pearce sold 3,700 shares of Ooma stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.54, for a total transaction of $57,498.00. Following the completion of the transaction, the director now owns 163,353 shares in the company, valued at approximately $2,538,505.62. The trade was a 2.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the completion of the sale, the chief executive officer now directly owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,875 shares of company stock worth $2,352,238 over the last quarter. 9.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ooma

Several institutional investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Ooma by 2.9% in the 3rd quarter. State Street Corp now owns 475,737 shares of the technology company’s stock worth $5,419,000 after acquiring an additional 13,240 shares in the last quarter. Walleye Capital LLC boosted its holdings in Ooma by 101.6% during the third quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock worth $627,000 after purchasing an additional 27,727 shares during the last quarter. Inspire Investing LLC bought a new stake in Ooma in the 4th quarter worth about $802,000. Barclays PLC increased its stake in Ooma by 32.7% in the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after buying an additional 24,402 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Ooma by 69.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after buying an additional 66,678 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.