Ooma (NYSE:OOMA) Shares Gap Up – Here’s What Happened

Ooma, Inc. (NYSE:OOMA) gapped up prior to trading on Monday . The stock had previously closed at $20.18, but opened at $20.98. Ooma shares last traded at $20.0920, with a volume of 69,320 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OOMA. Alliance Global Partners restated a “buy” rating on shares of Ooma in a research note on Wednesday, May 27th. B. Riley Financial reiterated a “buy” rating on shares of Ooma in a research report on Monday, May 18th. Lake Street Capital boosted their target price on shares of Ooma from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup restated a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. Finally, UBS Group set a $24.00 target price on shares of Ooma in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ooma has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Ooma Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $18.50 and its 200 day moving average is $15.04. The stock has a market capitalization of $564.36 million, a PE ratio of 64.13 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 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $81.15 million for 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. On average, equities research analysts predict that Ooma, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Transactions at Ooma

In related news, CFO Shigeyuki Hamamatsu sold 27,696 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $17.64, for a total value of $488,557.44. Following the completion of the transaction, the chief financial officer owned 193,283 shares in the company, valued at $3,409,512.12. This trade represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric B. Stang sold 27,666 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $18.50, for a total value of $511,821.00. Following the completion of the transaction, the chief executive officer owned 818,718 shares of the company’s stock, valued at approximately $15,146,283. The trade was a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 116,895 shares of company stock worth $2,186,532. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Ooma

A number of hedge funds have recently added to or reduced their stakes in the company. Essential Partners LLC raised its holdings in shares of Ooma by 8.3% in the 1st quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock valued at $119,000 after purchasing an additional 626 shares in the last quarter. Meeder Asset Management Inc. increased 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 buying an additional 740 shares during the last quarter. Royal Bank of Canada raised its stake in Ooma by 24.1% in the fourth quarter. Royal Bank of Canada now owns 4,466 shares of the technology company’s stock valued at $53,000 after buying an additional 867 shares in the last quarter. Man Group plc raised its stake in Ooma by 5.1% in the fourth quarter. Man Group plc now owns 18,073 shares of the technology company’s stock valued at $212,000 after buying an additional 880 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Ooma by 1.0% during the 4th quarter. GSA Capital Partners LLP now owns 111,522 shares of the technology company’s stock worth $1,308,000 after buying an additional 1,067 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other 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.