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

Ooma (NYSE:OOMA) had its target price lifted by Lake Street Capital from $14.00 to $18.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts also recently weighed in on OOMA. Benchmark boosted 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. JMP Securities reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. B. Riley boosted their target price 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. Finally, Northland Securities boosted their target price on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Ooma has an average rating of “Moderate Buy” and an average price target of $16.60.

Ooma Stock Up 4.4 %

Shares of Ooma stock opened at $16.04 on Thursday. The firm’s 50 day moving average price is $12.84 and its 200-day moving average price is $10.61. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Ooma has a 52-week low of $6.50 and a 52-week high of $17.00. The company has a market cap of $429.87 million, a P/E ratio of -84.42 and a beta of 0.94.

Hedge Funds Weigh In On Ooma

Several large investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its stake in shares of Ooma by 2.1% in the 3rd quarter. Jane Street Group LLC now owns 40,547 shares of the technology company’s stock valued at $462,000 after purchasing an additional 818 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Ooma by 0.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock valued at $2,047,000 after purchasing an additional 1,364 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Ooma by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company’s stock valued at $807,000 after purchasing an additional 3,138 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $6,226,000 after purchasing an additional 4,683 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Ooma by 17.1% in 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 period. 80.42% of the stock is currently owned by institutional investors and hedge funds.

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.