Ooma (NYSE:OOMA) Stock Passes Above 50 Day Moving Average – Here’s Why

Ooma, Inc. (NYSE:OOMA) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $16.88 and traded as high as $18.25. Ooma shares last traded at $17.6270, with a volume of 518,778 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Benchmark restated a “buy” rating on shares of Ooma in a research note on Thursday, March 5th. Citigroup restated a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. Lake Street Capital upped their target price on Ooma from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Alliance Global Partners restated a “buy” rating on shares of Ooma in a research note on Wednesday, May 27th. Finally, B. Riley Financial restated a “buy” rating on shares of Ooma in a research note on Monday, May 18th. Four investment 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 presently has an average rating of “Moderate Buy” and an average price target of $22.33.

Ooma Price Performance

The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $484.74 million, a PE ratio of 55.09 and a beta of 1.22. The stock has a 50-day moving average price of $16.88 and a 200 day moving average price of $13.82.

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, beating 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 for the quarter, compared to analyst estimates 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. Equities analysts forecast that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Insider Transactions at Ooma

In related news, CFO Shigeyuki Hamamatsu sold 27,696 shares of Ooma stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.64, for a total value of $488,557.44. Following the sale, the chief financial officer owned 193,283 shares of the company’s stock, valued at approximately $3,409,512.12. This trade represents a 12.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Ooma

A number of institutional investors have recently added to or reduced their stakes in OOMA. Amundi acquired a new stake in Ooma in the 1st quarter valued at $387,000. AQR Capital Management LLC acquired a new stake in Ooma in the 1st quarter valued at $478,000. Millennium Management LLC grew its stake in Ooma by 81.6% in the 1st quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock valued at $4,144,000 after acquiring an additional 142,220 shares during the period. Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 11,300 shares during the period. Finally, Jane Street Group LLC grew its stake in Ooma by 162.6% in the 1st quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock valued at $448,000 after acquiring an additional 21,192 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.

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.