Lake Street Capital Increases Ooma (NYSE:OOMA) Price Target to $18.00

Ooma (NYSE:OOMAGet Free Report) had its target price raised by Lake Street Capital from $14.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Lake Street Capital’s target price would indicate a potential upside of 11.39% from the stock’s previous close.

OOMA has been the subject of a number of other research reports. Northland Securities raised their price target on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday. Benchmark increased their target price on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. B. Riley upped their price objective on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, JMP Securities reissued a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

View Our Latest Stock Report on OOMA

Ooma Stock Performance

Shares of OOMA traded up $0.79 on Thursday, reaching $16.16. 279,842 shares of the stock traded hands, compared to its average volume of 104,041. The stock’s 50-day moving average price is $12.74 and its 200-day moving average price is $10.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a market cap of $433.09 million, a price-to-earnings ratio of -85.05 and a beta of 0.94. Ooma has a 12 month low of $6.50 and a 12 month high of $17.00.

Hedge Funds Weigh In On Ooma

Several large investors have recently bought and sold shares of OOMA. Virtus Investment Advisers Inc. acquired a new stake in shares of Ooma during the third quarter worth $98,000. SG Americas Securities LLC bought a new stake in shares of Ooma in the 3rd quarter valued at about $115,000. Bailard Inc. acquired a new position in Ooma during the second quarter valued at approximately $108,000. Paloma Partners Management Co bought a new stake in Ooma in the third quarter valued at approximately $126,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ooma in the second quarter worth $119,000. 80.42% of the stock is currently owned by institutional investors and hedge funds.

About Ooma

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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.

Further Reading

Analyst Recommendations for Ooma (NYSE:OOMA)

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