Ooma, Inc. (NYSE:OOMA) Receives $14.50 Average Target Price from Analysts

Ooma, Inc. (NYSE:OOMA) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $14.50.

A number of equities analysts recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, August 28th. Lake Street Capital assumed coverage on Ooma in a research note on Monday, June 17th. They issued a “buy” rating and a $14.00 price objective on the stock.

Ooma Price Performance

NYSE:OOMA opened at $10.53 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.81 and a current ratio of 1.16. The stock’s 50-day moving average is $9.42 and its 200-day moving average is $8.71. Ooma has a 1-year low of $6.50 and a 1-year high of $14.40.

Hedge Funds Weigh In On Ooma

Several institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in shares of Ooma by 52.7% in the 1st quarter. Covestor Ltd now owns 6,197 shares of the technology company’s stock valued at $53,000 after acquiring an additional 2,138 shares in the last quarter. Bailard Inc. acquired a new stake in Ooma in the second quarter worth $108,000. Cubist Systematic Strategies LLC acquired a new stake in Ooma in the second quarter worth $119,000. State Board of Administration of Florida Retirement System bought a new stake in Ooma in the first quarter valued at $130,000. Finally, Pitcairn Co. raised its holdings in shares of Ooma by 30.5% during the first quarter. Pitcairn Co. now owns 27,122 shares of the technology company’s stock valued at $231,000 after purchasing an additional 6,336 shares during the period. 80.42% of the stock is owned by institutional investors and hedge funds.

Ooma Company Profile

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.