Ooma (NYSE:OOMA) Price Target Raised to $25.00

by · The Cerbat Gem

Ooma (NYSE:OOMA – Free Report) had its price objective raised by Freedom Broker from $24.00 to $25.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research report on Thursday, August 27th. Citigroup reissued a “market perform” rating on shares of Ooma in a report on Monday, September 28th. B. Riley Financial raised their price objective on shares of Ooma from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. UBS Group reaffirmed a “buy” rating on shares of Ooma in a report on Thursday, August 27th. Finally, Benchmark reiterated a “buy” rating on shares of Ooma in a research report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Read Our Latest Research Report on Ooma

Ooma Stock Performance

NYSE OOMA opened at $20.91 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.66. Ooma has a 1 year low of $9.79 and a 1 year high of $26.19. The stock has a market capitalization of $577.09 million, a PE ratio of 55.03 and a beta of 1.23. The company’s 50 day simple moving average is $21.76 and its two-hundred day simple moving average is $18.86.

Ooma (NYSE:OOMA – Get Free Report) last posted its earnings results on Wednesday, August 26th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Ooma had a return on equity of 23.55% and a net margin of 3.57%.The business had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $81.72 million. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. Analysts predict that Ooma will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Ooma

In other news, SVP Jenny C. Yeh sold 20,966 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $24.05, for a total value of $504,232.30. Following the completion of the sale, the senior vice president owned 237,649 shares of the company’s stock, valued at approximately $5,715,458.45. This represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric B. Stang sold 29,639 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $23.08, for a total transaction of $684,068.12. Following the transaction, the chief executive officer directly owned 1,199,941 shares in the company, valued at approximately $27,694,638.28. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 112,554 shares of company stock valued at $2,518,971. 9.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ooma

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Ooma during the second quarter valued at about $69,001,000. Renaissance Technologies LLC lifted its stake in shares of Ooma by 12.2% in the 1st quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company’s stock valued at $13,273,000 after acquiring an additional 99,100 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Ooma in the 1st quarter valued at about $5,847,000. Dimensional Fund Advisors LP boosted its holdings in Ooma by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 379,007 shares of the technology company’s stock valued at $5,514,000 after acquiring an additional 44,097 shares during the period. Finally, Globeflex Capital L P purchased a new stake in Ooma during the 2nd quarter valued at about $4,235,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

About Ooma

(Get Free Report)

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.

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