On May 24, 2023, JMP Securities reaffirmed its coverage of Ooma (NYSE:OOMA) with a Market Outperform recommendation, as reported by Fintel. The average one-year price target for Ooma is 22.13, with a high of $28.88 and a low of 18.18. This forecast suggests a significant increase of 74.28% from its latest reported closing price of 12.70.
Ooma is projected to have an annual revenue of 242MM, an increase of 8.79%. The estimated annual non-GAAP EPS is 0.60. As of the last quarter, 244 funds or institutions reported positions in Ooma, which is a decrease of 1.61%, with an average portfolio weight of 0.08%, a decrease of 57.53%. The total shares owned by institutions decreased by 4.49% in the last three months to 20,738K shares. Ooma’s put/call ratio is 0.05, indicating a bullish outlook.
Notable shareholders include Trigran Investments, which holds 3,375K shares representing 13.33% ownership of the company. Wellington Management Group Llp holds 1,086K shares representing 4.29% ownership of the company, while Renaissance Technologies holds 826K shares representing 3.26% ownership. Royce & Associates holds 714K shares representing 2.82% ownership of the company.
Ooma provides advanced voice and collaboration features, messaging, intelligent virtual attendants, and video conferencing services to businesses of all sizes. The company also offers a residential phone service with PureVoice HD voice quality, advanced functionality, and integration with mobile devices.
This news was originally published on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
