OOMA presented a solid price increase over a period of 11 days, reflecting investors’ continued willingness to pay more for the potential upside in a stock. In the latest bullish flag breakout, OOMA gained +22.2% over the last 6 trading days and successfully established a new all time high at $24.10.
The negative free cash flow of OOMA may make it a less-desirable investment, however the stock price currently still remains significantly undervalued relative to its peers. It should be well-positioned to capitalize on the seismic tailwind due to the stay-at-home mandate in US.
OOMA creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company’s smart software-as-a-service and unified-communications-as-a-service (UCaaS) platforms serve as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services.