Ooma, Inc. (NYSE:OOMA) Stock Has Average Target Price of $25.00 According to Brokerages

Shares of Ooma, Inc. (NYSE:OOMA) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $25.00.

OOMA has been the subject of a number of research analyst reports. Freedom Broker increased their target price on Ooma from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Benchmark reiterated a “buy” rating on shares of Ooma in a report on Monday, August 17th. Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research report on Thursday, August 27th. Lake Street Capital restated a “buy” rating and set a $25.00 price target on shares of Ooma in a report on Thursday, August 27th. Finally, William Blair set a $24.00 price target on shares of Ooma in a research note on Monday, August 17th.

Ooma Price Performance

OOMA stock opened at $20.98 on Tuesday. Ooma has a one year low of $9.79 and a one year high of $26.19. The firm has a 50-day moving average of $21.76 and a two-hundred day moving average of $18.95. The firm has a market capitalization of $579.16 million, a PE ratio of 55.22 and a beta of 1.23. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Ooma (NYSE:OOMA) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $83.23 million for the quarter, compared to analyst estimates of $81.72 million. Ooma had a net margin of 3.57% and a return on equity of 23.55%. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. On average, analysts forecast that Ooma will post 0.87 earnings per share for the current year.

Insider Transactions at Ooma

In other news, Director Susan Butenhoff sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $22.02, for a total transaction of $198,180.00. Following the completion of the sale, the director directly owned 109,483 shares of the company’s stock, valued at $2,410,815.66. This trade represents a 7.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shigeyuki Hamamatsu sold 4,807 shares of Ooma stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $22.33, for a total value of $107,340.31. Following the sale, the chief financial officer owned 179,420 shares of the company’s stock, valued at approximately $4,006,448.60. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 110,073 shares of company stock valued at $2,469,277. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Ooma

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Ooma in the 2nd quarter valued at $69,001,000. Renaissance Technologies LLC raised its holdings in Ooma by 12.2% during the first quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company’s stock valued at $13,273,000 after buying an additional 99,100 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Ooma during the first quarter valued at about $5,847,000. Dimensional Fund Advisors LP lifted its position in shares of Ooma by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 379,007 shares of the technology company’s stock worth $5,514,000 after buying an additional 44,097 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Ooma in the second quarter worth about $4,235,000. 80.42% of the stock is currently owned by institutional investors and hedge funds.

About Ooma

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related services to small and midsize businesses, enterprises, and consumers. Its business offerings are designed to replace or complement traditional business phone systems with internet-based communications delivered through software and connected devices.

Ooma’s business products include Ooma Office, Ooma Pro, and Ooma Enterprise, which provide cloud-based phone systems, business texting, virtual extensions, conferencing, call management, and other unified communications features.