Ooma (NYSE:OOMA) Hits New 52-Week High – Time to Buy?

Shares of Ooma, Inc. (NYSE:OOMA) reached a new 52-week high on Monday . The stock traded as high as $22.50 and last traded at $22.50, with a volume of 1412 shares trading hands. The stock had previously closed at $21.75.

Analysts Set New Price Targets

OOMA has been the topic of a number of recent research reports. UBS Group set a $24.00 price target on shares of Ooma in a research report on Wednesday, May 27th. Alliance Global Partners reissued a “buy” rating on shares of Ooma in a report on Wednesday, May 27th. B. Riley Financial restated a “buy” rating on shares of Ooma in a research note on Monday, May 18th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a report on Wednesday, May 27th. Finally, Lake Street Capital increased their price target on Ooma from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ooma currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Ooma Trading Up 0.5%

The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $593.84 million, a price-to-earnings ratio of 67.48 and a beta of 1.19. The firm has a 50-day moving average of $19.08 and a 200 day moving average of $16.03.

Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Ooma had a return on equity of 20.21% and a net margin of 3.17%.The firm had revenue of $81.15 million for the quarter, compared to the consensus estimate of $79.84 million. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. As a group, equities analysts predict that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Ooma

In related news, SVP Jenny C. Yeh sold 1,757 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $22.00, for a total value of $38,654.00. Following the completion of the sale, the senior vice president owned 258,615 shares of the company’s stock, valued at $5,689,530. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Russell Mann sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $18.35, for a total transaction of $367,000.00. Following the completion of the sale, the director directly owned 116,115 shares of the company’s stock, valued at $2,130,710.25. The trade was a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 118,652 shares of company stock valued at $2,225,186. 9.90% of the stock is currently owned by insiders.

Institutional Trading of Ooma

A number of institutional investors have recently made changes to their positions in OOMA. Amundi acquired a new position in shares of Ooma during the first quarter valued at approximately $387,000. AQR Capital Management LLC bought a new stake in Ooma during the first quarter worth approximately $478,000. Millennium Management LLC lifted its position in Ooma by 81.6% in the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock worth $4,144,000 after purchasing an additional 142,220 shares during the period. Goldman Sachs Group Inc. lifted its position in Ooma by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock worth $3,254,000 after purchasing an additional 11,300 shares during the period. Finally, Jane Street Group LLC boosted its stake 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 in the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

About Ooma

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.