Benchmark Issues Positive Forecast for Ooma (NYSE:OOMA) Stock Price

Ooma (NYSE:OOMA) had its price target boosted by stock analysts at Benchmark from $15.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s target price suggests a potential upside of 14.40% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. B. Riley increased their price objective on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. JMP Securities reiterated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ooma has an average rating of “Moderate Buy” and a consensus price target of $15.25.

Ooma Trading Up 0.7 %

Ooma stock traded up $0.11 during trading hours on Tuesday, reaching $14.86. 18,726 shares of the company’s stock were exchanged, compared to its average volume of 101,993. The firm has a market capitalization of $398.25 million, a PE ratio of -78.00 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $12.59 and its 200 day simple moving average is $10.49. Ooma has a twelve month low of $6.50 and a twelve month high of $15.52.

Institutional Investors Weigh In On Ooma

Several institutional investors have recently added to or reduced their stakes in OOMA. Jane Street Group LLC grew its stake in Ooma by 2.1% in the 3rd quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock worth $462,000 after buying an additional 818 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Ooma by 0.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock valued at $2,047,000 after acquiring an additional 1,364 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Ooma by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock worth $807,000 after purchasing an additional 3,138 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ooma by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after purchasing an additional 4,683 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Ooma by 17.1% during the 2nd quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock valued at $374,000 after purchasing an additional 5,494 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

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.