Ooma (NYSE:OOMA) Reaches New 52-Week High – Still a Buy?

Ooma, Inc. (NYSE:OOMA)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $22.04 and last traded at $21.9750, with a volume of 246487 shares trading hands. The stock had previously closed at $20.78.

Analysts Set New Price Targets

A number of research analysts have issued reports on OOMA shares. Citigroup reissued a “market perform” rating on shares of Ooma in a report on Wednesday, May 27th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ooma in a report on Wednesday, May 27th. UBS Group set a $24.00 target price on shares of Ooma in a research report on Wednesday, May 27th. Lake Street Capital lifted their price target on shares of Ooma from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, B. Riley Financial restated a “buy” rating on shares of Ooma in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Ooma Trading Down 2.8%

The business has a 50 day simple moving average of $18.88 and a 200 day simple moving average of $15.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.69. The company has a market cap of $585.14 million, a price-to-earnings ratio of 66.33 and a beta of 1.20.

Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $81.15 million during the quarter, compared to analyst estimates of $79.84 million. Ooma had a return on equity of 20.21% and a net margin of 3.17%.Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. As a group, equities analysts forecast that Ooma, Inc. will post 0.8 EPS for the current year.

Insider Transactions at Ooma

In other Ooma news, SVP Jenny C. Yeh sold 2,481 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $20.03, for a total value of $49,694.43. Following the completion of the transaction, the senior vice president directly owned 262,134 shares of the company’s stock, valued at approximately $5,250,544.02. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric B. Stang sold 23,212 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $20.00, for a total transaction of $464,240.00. Following the sale, the chief executive officer directly owned 795,506 shares in the company, valued at $15,910,120. This trade represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 116,895 shares of company stock worth $2,186,532. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. IFC & Insurance Marketing Inc. bought a new stake in shares of Ooma during the fourth quarter worth $34,000. Meeder Asset Management Inc. boosted its holdings in Ooma by 28.3% in the first quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company’s stock valued at $49,000 after acquiring an additional 740 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Ooma by 225.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company’s stock worth $47,000 after purchasing an additional 2,507 shares during the period. CWM LLC increased its position in Ooma by 45.6% in the fourth quarter. CWM LLC now owns 4,400 shares of the technology company’s stock worth $52,000 after purchasing an additional 1,378 shares during the period. Finally, Royal Bank of Canada raised its holdings in Ooma by 24.1% during the 4th quarter. Royal Bank of Canada now owns 4,466 shares of the technology company’s stock worth $53,000 after purchasing an additional 867 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

Ooma Company Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.