StockNews.com Upgrades Ooma (NYSE:OOMA) to Strong-Buy

StockNews.com upgraded shares of Ooma (NYSE:OOMA) from a buy rating to a strong-buy rating in a report issued on Friday.

Several other research firms have also weighed in on OOMA. JMP Securities restated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. Lake Street Capital raised their price objective on Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark upped 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, December 3rd. Northland Securities increased 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. Finally, B. Riley boosted 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. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ooma has a consensus rating of “Buy” and an average target price of $16.60.

Ooma Stock Performance

Shares of OOMA opened at $14.91 on Friday. Ooma has a one year low of $6.50 and a one year high of $17.00. The company has a 50-day simple moving average of $12.91 and a two-hundred day simple moving average of $10.71. 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 capitalization of $399.59 million, a PE ratio of -40.30 and a beta of 0.94.

Hedge Funds Weigh In On Ooma

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its position in Ooma by 40.4% during the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after purchasing an additional 154,117 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Ooma by 64.8% in the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after buying an additional 76,161 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ooma by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after buying an additional 68,430 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Ooma by 69.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after buying an additional 66,678 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Ooma by 4.1% during the second quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock valued at $8,393,000 after buying an additional 33,100 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

About Ooma

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.