Trigran Investments, Inc. recently announced the acquisition of new stake in Ooma Inc. (NYSE:OOMA). The institutional investor has increased its shareholding in the Communication Services company by 9.99% to 2.81 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 11.35% valued currently at $38.34 million. In addition, BlackRock Fund Advisors raised its holdings by 0.25 million to 1.75 million shares. And Wellington Management Co. LLP has lifted its position by 13.55% or 0.16 million shares – to 1.31 million shares.
With over 0.25 million Ooma Inc. (OOMA) shares trading Tuesday and a closing price of $14.07 on the day, the dollar volume was approximately $3.52 million. The shares have shown a positive half year performance of 25.29% and its price on 01/17/23 lost nearly -0.42%. Currently, there are 24.61M common shares owned by the public and among those 22.54M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for OOMA have a consensus price objective of $22.30. The analysts have set the share’s price value over the next 12 months at a high of $27.50 and a low of $19.00. The average price target is 36.91% above its recent price level and an upside to the estimated low will see the stock gain 25.95% over that period. But an upside of 48.84% will see the stock hit the forecast high price target while median target price for the stock is $21.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 365,630 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 100,668 shares.
The top 3 mutual fund holders in Ooma Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Royce Small-Cap Opportunity Fund. Vanguard Total Stock Market Index owns 0.67 million shares of the company’s stock, all valued at over $9.14 million. iShares Russell 2000 ETF sold 5490.0 shares to see its total holdings shrink to 0.53 million shares valued at over $7.16 million and representing 2.12% of the shares outstanding. Royce Small-Cap Opportunity Fund bought 62925.0 shares to bring its total holdings to over 0.44 million shares at a value of $6.0 million. Royce Small-Cap Opportunity Fund now owns shares totaling to 1.78% of the shares outstanding.
Shares of Ooma Inc. (NYSE: OOMA) opened at $14.10, down -$0.03 from a prior closing price of $14.13. However, the script later moved the day high at 14.35, down -0.42%. The company’s stock has a 5-day price change of 3.68% and -4.35% over the past three months. OOMA shares are trading 3.30% year to date (YTD), with the 12-month market performance down to -26.30% lower. It has a 12-month low price of $10.82 and touched a high of $19.32 over the same period. OOMA has an average intraday trading volume of 82.15K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.57%, -3.76%, and 4.16% respectively.
Institutional ownership of Ooma Inc. (NYSE: OOMA) shares accounts for 81.80% of the company’s 24.61M shares outstanding. Mutual fund holders own 24.61%, while other institutional holders and individual stakeholders account for 54.40% and 11.87% respectively.
It has a market capitalization of $336.41M and a beta (3y monthly) value of 0.82. The earnings-per-share (ttm) stands at -$0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.65% over the week and 3.70% over the month.
Analysts forecast that Ooma Inc. (OOMA) will achieve an EPS of $0.11 for the current quarter, $0.1 for the next quarter and $0.56 for 2024. The lowest estimate earnings-per-share for the quarter is $0.1 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to increase by 31.70%, and 11.03% over the next financial year. EPS should grow at an annualized rate of 47.70% over the next five years, compared to 36.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Ooma Inc. (OOMA) as a “Strong Buy” at a consensus score of 1.80. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OOMA, a number of firms have released research notes about the stock. Colliers Securities stated their Buy rating for the stock in a research note on February 02, 2022, with the firm’s price target at $25. The Benchmark Company coverage for the Ooma Inc. (OOMA) stock in a research note released on July 22, 2020 offered a Buy rating with a price target of $22. William Blair on their part issued Outperform rating on November 28, 2018.