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.
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