Benchmark Forecasts Strong Price Appreciation for Ooma (NYSE:OOMA) Stock

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

OOMA has been the subject of several other reports. JMP Securities restated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. B. Riley raised their target price on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Ooma Trading Up 0.7 %

Ooma stock traded up $0.11 during mid-day trading on Tuesday, hitting $14.86. The company’s stock had a trading volume of 18,726 shares, compared to its average volume of 101,993. The business has a 50 day moving average price of $12.59 and a 200-day moving average price of $10.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.83. Ooma has a 12 month low of $6.50 and a 12 month high of $15.52. The stock has a market cap of $398.25 million, a price-to-earnings ratio of -78.00 and a beta of 0.94.

Hedge Funds Weigh In On Ooma

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. bought a new position in shares of Ooma during the third quarter valued at $197,000. Barclays PLC lifted its stake in shares of Ooma by 32.7% in the third quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock worth $1,128,000 after buying an additional 24,402 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ooma by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock valued at $6,226,000 after purchasing an additional 4,683 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Ooma in the 3rd quarter worth $185,000. Finally, Jane Street Group LLC raised its stake in shares of Ooma by 2.1% in the third quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock worth $462,000 after purchasing an additional 818 shares during the last quarter. 80.42% of the stock is currently 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.