Wall Street Analysts See a 60.47% Upside in Ooma (OOMA): Can the Stock Really Move This High?

Core Viewpoint - Ooma (OOMA) shares have increased by 5.5% recently, closing at $11.61, with analysts suggesting a potential upside of 60.5% based on a mean price target of $18.63 [1] Price Targets - The average price target consists of four estimates ranging from $18.00 to $20.00, with a standard deviation of $0.95, indicating a potential increase of 55% to 72.3% from the current price [2] - A low standard deviation suggests a strong agreement among analysts regarding the price targets, which can be a useful indicator for further research [2][9] Analyst Sentiment - Analysts are increasingly optimistic about Ooma's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which historically correlates with stock price movements [4][11] - Over the past 30 days, the Zacks Consensus Estimate for the current year has risen by 28.6%, with four estimates moving higher and no negative revisions [12] Zacks Rank - Ooma holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting a strong potential upside [13] Conclusion on Price Targets - While the consensus price target may not be a reliable measure of the stock's potential gain, it does provide a directional guide for price movement [14]