Ooma, Inc. (NYSE:OOMA) Receives $22.33 Consensus Price Target from Analysts

Ooma, Inc. (NYSE:OOMA) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.3333.

OOMA has been the subject of several recent research reports. Citigroup reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. Lake Street Capital boosted 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. Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research note on Wednesday, May 27th. UBS Group set a $24.00 price objective on Ooma in a report on Wednesday, May 27th. Finally, B. Riley Financial reissued a “buy” rating on shares of Ooma in a research note on Monday, May 18th.

Ooma Price Performance

NYSE OOMA opened at $20.93 on Thursday. The business has a 50 day simple moving average of $18.63 and a 200 day simple moving average of $15.30. Ooma has a 52-week low of $9.79 and a 52-week high of $21.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.94. The stock has a market cap of $575.71 million, a price-to-earnings ratio of 65.42 and a beta of 1.20.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Ooma had a return on equity of 20.21% and a net margin of 3.17%.The company had revenue of $81.15 million for the quarter, compared to analyst estimates 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. Analysts anticipate that Ooma will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Ooma

In other Ooma news, CEO Eric B. Stang sold 27,666 shares of Ooma stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $18.50, for a total value of $511,821.00. Following the completion of the sale, the chief executive officer owned 818,718 shares in the company, valued at $15,146,283. The trade was a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Pearce sold 3,000 shares of Ooma stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.98, for a total transaction of $53,940.00. Following the completion of the sale, the director owned 181,652 shares of the company’s stock, valued at approximately $3,266,102.96. The trade was a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,895 shares of company stock worth $2,186,532 in the last three months. 9.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ooma

Several institutional investors and hedge funds have recently bought and sold shares of OOMA. Amundi acquired a new position in shares of Ooma during the 1st quarter worth $387,000. AQR Capital Management LLC acquired a new stake in Ooma in the first quarter valued at about $478,000. Millennium Management LLC boosted its stake in Ooma by 81.6% in the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock valued at $4,144,000 after buying an additional 142,220 shares in the last quarter. Goldman Sachs Group Inc. grew 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 valued at $3,254,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Ooma by 162.6% in the first quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock valued at $448,000 after acquiring an additional 21,192 shares during the last quarter. Institutional investors own 80.42% of the company’s stock.

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.