Ooma (NYSE:OOMA) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

Ooma, Inc. (NYSE:OOMA) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 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 traded.

Analysts Set New Price Targets

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

Ooma Trading Up 1.4%

The business has a 50-day simple moving average of $16.99 and a two-hundred day simple moving average of $13.89. The stock has a market cap of $483.04 million, a price-to-earnings ratio of 54.89 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.70.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, topping 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 firm had revenue of $81.15 million for the quarter, compared to the consensus estimate 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. Equities analysts forecast that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Ooma

In other Ooma news, Director William D. Pearce sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.98, for a total transaction of $53,940.00. Following the transaction, the director owned 181,652 shares in the company, valued at $3,266,102.96. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shigeyuki Hamamatsu sold 27,696 shares of the firm’s stock in a transaction on 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 owned 193,283 shares in the company, valued at approximately $3,409,512.12. This trade represents a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ooma

A number of hedge funds have recently added to or reduced their stakes in the stock. Essential Partners LLC increased its stake in Ooma by 8.3% during the 1st quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock worth $119,000 after acquiring an additional 626 shares during the period. Quantinno Capital Management LP increased its stake in Ooma by 247.3% during the 1st quarter. Quantinno Capital Management LP now owns 70,703 shares of the technology company’s stock worth $1,029,000 after acquiring an additional 50,347 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Ooma in the 1st quarter valued at $1,415,000. Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 99,100 shares in the last quarter. Finally, Walleye Capital LLC boosted its holdings in shares of Ooma by 63.3% in the 1st quarter. Walleye Capital LLC now owns 35,662 shares of the technology company’s stock valued at $519,000 after purchasing an additional 13,829 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.

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.