Ooma, Inc. (NYSE:OOMA) Stock Has Average Price Target of $25.00 According to Brokerages

Ooma, Inc. (NYSE:OOMA) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $25.00.

Several research analysts have issued reports on OOMA shares. Freedom Broker increased their price objective on Ooma from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday. Alliance Global Partners reaffirmed a “buy” rating on shares of Ooma in a report on Thursday, August 27th. Citigroup reiterated a “market perform” rating on shares of Ooma in a research report on Monday. UBS Group reissued a “buy” rating on shares of Ooma in a report on Thursday, August 27th. Finally, B. Riley Financial boosted their price target 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.

Insider Buying and Selling

In other news, CAO Namrata Sabharwal sold 2,481 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $23.20, for a total value of $57,559.20. Following the transaction, the chief accounting officer directly owned 83,927 shares of the company’s stock, valued at $1,947,106.40. The trade was a 2.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Stang sold 29,639 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $23.08, for a total value of $684,068.12. Following the sale, the chief executive officer owned 1,199,941 shares in the company, valued at approximately $27,694,638.28. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 112,554 shares of company stock valued at $2,518,971 in the last ninety days. 9.90% of the stock is owned by corporate insiders.

Institutional Trading of Ooma

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Ooma during the 2nd quarter worth about $69,001,000. Renaissance Technologies LLC increased its position in 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 in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Ooma in the 1st quarter valued at about $5,847,000. Dimensional Fund Advisors LP raised its stake in shares of Ooma by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 379,007 shares of the technology company’s stock worth $5,514,000 after acquiring an additional 44,097 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Ooma in the second quarter worth about $4,235,000. Institutional investors own 80.42% of the company’s stock.

Ooma Trading Up 1.8%

OOMA stock opened at $20.79 on Tuesday. Ooma has a 1-year low of $9.79 and a 1-year high of $26.19. The firm has a market cap of $573.89 million, a P/E ratio of 54.72 and a beta of 1.23. The business’s 50 day moving average is $21.74 and its 200-day moving average is $18.85. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Ooma (NYSE:OOMA) 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. The business had revenue of $83.23 million during the quarter, compared to the consensus estimate of $81.72 million. Ooma had a return on equity of 23.55% and a net margin of 3.57%.Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. Equities analysts anticipate that Ooma will post 0.87 earnings per share for the current fiscal year.

About Ooma

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related technology services to small and midsized businesses, enterprises, and residential customers. Its services are delivered primarily through internet-based platforms designed to help customers manage communications without relying on traditional on-premises phone systems.

For businesses, Ooma offers cloud phone and unified communications solutions under brands and product lines that include Ooma Office, Ooma Pro, Ooma Enterprise, and Ooma AirDial.