Fintel reports that on June 17, 2024, Lake Street initiated coverage of Ooma (NYSE:OOMA) with a Buy recommendation.
Analyst Price Forecast Suggests 73.47% Upside
As of June 12, 2024, the average one-year price target for Ooma is 15.30. The forecasts range from a low of 14.64 to a high of $16.80. The average price target represents an increase of 73.47% from its latest reported closing price of 8.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ooma is 272MM, an increase of 12.13%. The projected annual non-GAAP EPS is 0.72.
What is the Fund Sentiment?
There are 234 funds or institutions reporting positions in Ooma. This is an decrease of 4 owner(s) or 1.68% in the last quarter. Average portfolio weight of all funds dedicated to OOMA is 0.05%, an increase of 22.09%. Total shares owned by institutions increased in the last three months by 1.13% to 21,192K shares. 
The put/call ratio of OOMA is 5.00, indicating a bearish outlook.
What are Other Shareholders Doing?
Trigran Investments holds 4,085K shares representing 15.46% ownership of the company. In its prior filing, the firm reported owning 4,036K shares , representing an increase of 1.19%. The firm decreased its portfolio allocation in OOMA by 19.15% over the last quarter.
AWM Investment holds 1,410K shares representing 5.34% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 972K shares representing 3.68% ownership of the company. In its prior filing, the firm reported owning 1,246K shares , representing a decrease of 28.16%. The firm decreased its portfolio allocation in OOMA by 91.62% over the last quarter.
Renaissance Technologies holds 812K shares representing 3.07% ownership of the company. In its prior filing, the firm reported owning 861K shares , representing a decrease of 5.98%. The firm decreased its portfolio allocation in OOMA by 23.83% over the last quarter.
Royce & Associates holds 760K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 882K shares , representing a decrease of 15.99%. The firm decreased its portfolio allocation in OOMA by 33.77% over the last quarter.
Ooma Background Information
(This description is provided by the company.)
Ooma creates powerful connected experiences for businesses and consumers, delivered from its smart cloud-based SaaS platform. For businesses of all sizes, Ooma provides advanced voice and collaboration features including messaging, intelligent virtual attendants, and video conferencing to help them run more efficiently. For consumers, Ooma's residential phone service provides PureVoice HD voice quality, advanced functionality and integration with mobile devices.
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This story originally appeared on Fintel.
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