Ooma price target lowered to $15 from $18 at Benchmark

Benchmark lowered the firm’s price target on Ooma to $15 from $18 and keeps a Buy rating on the shares as the firm is now “more appropriately gearing our valuation to the S&P 400 rather than the S&P 500.” The firm, which is also introducing FY25 quarterly estimates with moderate revisions to its annual estimates, remains “especially enthused on Ooma’s AirDial product,” though the immediate adoption rate and flow through to revenues has been less than initially anticipated.