Ooma (NYSE:OOMA) Reaches New 1-Year High – Here’s Why

Ooma, Inc. (NYSE:OOMA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.04 and last traded at $21.9750, with a volume of 246487 shares changing hands. The stock had previously closed at $20.78.

Wall Street Analyst Weigh In

OOMA has been the topic of several research reports. Citigroup restated a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. B. Riley Financial restated a “buy” rating on shares of Ooma in a research report on Monday, May 18th. UBS Group set a $24.00 target price on shares of Ooma in a 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 research report on Wednesday, May 27th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Ooma Stock Performance

The stock has a fifty day simple moving average of $18.77 and a two-hundred day simple moving average of $15.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.94. The stock has a market cap of $599.91 million, a price-to-earnings ratio of 68.17 and a beta of 1.20.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $81.15 million during the quarter, compared to the consensus estimate 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. Analysts expect that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Russell Mann sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $18.35, for a total value of $367,000.00. Following the sale, the director directly owned 116,115 shares in the company, valued at approximately $2,130,710.25. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric B. Stang sold 23,212 shares of Ooma 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,895 shares of company stock worth $2,186,532 in the last quarter. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Ooma

Hedge funds have recently modified their holdings of the company. Amundi acquired a new position in Ooma in the 1st quarter worth about $387,000. AQR Capital Management LLC acquired a new position in shares of Ooma in the first quarter valued at approximately $478,000. Millennium Management LLC increased its stake in shares of Ooma by 81.6% in the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock valued at $4,144,000 after buying an additional 142,220 shares during the period. Goldman Sachs Group Inc. raised its holdings in Ooma by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock valued at $3,254,000 after buying an additional 11,300 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Ooma by 162.6% during the 1st quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock worth $448,000 after buying an additional 21,192 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.

About Ooma

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.