Ooma (NYSE:OOMA) Hits New 52-Week High – Here’s Why

Shares of Ooma, Inc. (NYSE:OOMA) reached a new 52-week high on Tuesday . The company traded as high as $19.59 and last traded at $19.5250, with a volume of 24201 shares traded. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

OOMA has been the topic of a number of recent research reports. Benchmark restated a “buy” rating on shares of Ooma in a research note on Thursday, March 5th. B. Riley Financial reiterated a “buy” rating on shares of Ooma in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Ooma Price Performance

The company has a market capitalization of $532.87 million, a PE ratio of 88.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.70. The company’s 50 day simple moving average is $15.52 and its 200 day simple moving average is $13.02.

Ooma (NYSE:OOMA) last announced its earnings results on Wednesday, March 4th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $74.58 million for the quarter, compared to analyst estimates of $72.55 million. Ooma had a net margin of 2.36% and a return on equity of 15.60%. Ooma has set its FY 2027 guidance at 1.260-1.310 EPS and its Q1 2027 guidance at 0.310-0.330 EPS. As a group, sell-side analysts predict that Ooma, Inc. will post 0.78 earnings per share for the current year.

Insider Activity at Ooma

In other news, CFO Shigeyuki Hamamatsu sold 10,790 shares of Ooma stock in a transaction on Friday, March 6th. The shares were sold at an average price of $14.22, for a total value of $153,433.80. Following the transaction, the chief financial officer directly owned 231,128 shares of the company’s stock, valued at $3,286,640.16. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ooma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP grew its position in Ooma by 247.3% in the 1st quarter. Quantinno Capital Management LP now owns 70,703 shares of the technology company’s stock valued at $1,029,000 after buying an additional 50,347 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Ooma in the first quarter valued at $1,415,000. Renaissance Technologies LLC lifted its holdings in Ooma by 12.2% in the first quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company’s stock valued at $13,273,000 after acquiring an additional 99,100 shares during the period. Walleye Capital LLC lifted its holdings in Ooma by 63.3% in the first quarter. Walleye Capital LLC now owns 35,662 shares of the technology company’s stock valued at $519,000 after acquiring an additional 13,829 shares during the period. Finally, Meeder Asset Management Inc. lifted 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 period. 80.42% of the stock is currently 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.