Ooma (NYSE:OOMA) Share Price Passes Above 50-Day Moving Average – What’s Next?

Ooma, Inc. (NYSE:OOMA)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.88 and traded as high as $18.25. Ooma shares last traded at $17.6270, with a volume of 518,778 shares trading hands.

Analyst Ratings Changes

OOMA has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of Ooma in a research report on Thursday, March 5th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ooma in a research report on Wednesday, May 27th. UBS Group set a $24.00 target price on Ooma in a research report on Wednesday, May 27th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ooma in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.33.

Ooma Stock Up 1.7%

The business has a fifty day moving average price of $16.88 and a two-hundred day moving average price of $13.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a market capitalization of $484.74 million, a price-to-earnings ratio of 55.09 and a beta of 1.22.

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

Insider Buying and Selling at Ooma

In other news, CFO Shigeyuki Hamamatsu sold 27,696 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.64, for a total value of $488,557.44. Following the transaction, the chief financial officer directly owned 193,283 shares of the company’s stock, valued at approximately $3,409,512.12. This represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OOMA. Amundi acquired a new position in shares of Ooma in the first quarter valued at about $387,000. AQR Capital Management LLC acquired a new position in shares of Ooma in the first quarter valued at about $478,000. Millennium Management LLC boosted its stake in shares of 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 buying an additional 142,220 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 buying an additional 11,300 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Ooma by 162.6% in the first quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock worth $448,000 after buying an additional 21,192 shares during the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Ooma Company Profile

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.