Ooma (NYSE:OOMA) Hits New 52-Week High – Time to Buy?

Ooma, Inc. (NYSE:OOMA) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $22.50 and last traded at $22.50, with a volume of 1412 shares trading hands. The stock had previously closed at $21.75.

Analyst Ratings Changes

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

Ooma Trading Up 4.0%

The company has a fifty day moving average of $18.99 and a two-hundred day moving average of $15.89. 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 stock has a market capitalization of $622.08 million, a price-to-earnings ratio of 70.30 and a beta of 1.19.

Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Ooma had a return on equity of 20.21% and a net margin of 3.17%.The firm had revenue of $81.15 million during the quarter, compared to analysts’ expectations of $79.84 million. 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, research analysts expect that Ooma, Inc. will post 0.8 EPS for the current year.

Insiders Place Their Bets

In other Ooma news, SVP Jenny C. Yeh sold 12,840 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $19.57, for a total transaction of $251,278.80. Following the completion of the sale, the senior vice president directly owned 264,615 shares in the company, valued at $5,178,515.55. This represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shigeyuki Hamamatsu sold 27,696 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.64, for a total value of $488,557.44. Following the completion of the sale, the chief financial officer directly owned 193,283 shares in the company, valued at approximately $3,409,512.12. This represents a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 118,652 shares of company stock worth $2,225,186 in the last ninety days. 9.90% of the stock is owned by insiders.

Institutional Trading of Ooma

Several hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC grew its holdings in 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 buying an additional 626 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of 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 period. Royal Bank of Canada boosted its position in shares of 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 acquiring an additional 867 shares during the period. Man Group plc grew its stake in shares of Ooma by 5.1% in the fourth quarter. Man Group plc now owns 18,073 shares of the technology company’s stock worth $212,000 after acquiring an additional 880 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Ooma by 1.0% in the fourth quarter. GSA Capital Partners LLP now owns 111,522 shares of the technology company’s stock worth $1,308,000 after acquiring an additional 1,067 shares during the last quarter. Institutional investors 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.