Ooma, Inc. (NYSE:OOMA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Ooma, Inc. (NYSE:OOMA) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.63.

A number of equities analysts have weighed in on OOMA shares. Lake Street Capital decreased their price target on shares of Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Benchmark lifted their price target on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Northland Securities lifted their target price on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, B. Riley lifted their target price on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th.

Institutional Investors Weigh In On Ooma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OOMA. Arrowstreet Capital Limited Partnership increased its stake in Ooma by 284.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company’s stock worth $3,557,000 after buying an additional 187,245 shares during the period. Alliancebernstein L.P. increased its stake in Ooma by 674.1% during the 4th quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company’s stock worth $1,806,000 after buying an additional 111,840 shares during the period. Marshall Wace LLP increased its stake in Ooma by 188.3% during the 4th quarter. Marshall Wace LLP now owns 146,621 shares of the technology company’s stock worth $2,061,000 after buying an additional 95,765 shares during the period. Norges Bank purchased a new stake in Ooma during the 4th quarter worth $1,067,000. Finally, Vanguard Group Inc. increased its stake in Ooma by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company’s stock worth $18,822,000 after buying an additional 71,247 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Ooma Stock Up 1.8 %

Shares of OOMA opened at $13.75 on Wednesday. The firm has a market cap of $371.12 million, a PE ratio of -37.15 and a beta of 0.99. The company’s fifty day moving average is $14.32 and its two-hundred day moving average is $13.39. Ooma has a fifty-two week low of $6.50 and a fifty-two week high of $17.00. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

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.