Ooma Inc (OOMA) Expected to Post Quarterly Sales of $29.51 Million

Equities analysts expect that Ooma Inc (NYSE:OOMA) will post sales of $29.51 million for the current quarter, according to Zacks. Three analysts have issued estimates for Ooma’s earnings. The highest sales estimate is $29.62 million and the lowest is $29.41 million. Ooma posted sales of $27.56 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.1%. The firm is expected to report its next earnings report after the market closes on Tuesday, March 6th.

According to Zacks, analysts expect that Ooma will report full year sales of $29.51 million for the current year, with estimates ranging from $113.68 million to $113.89 million. For the next fiscal year, analysts anticipate that the firm will post sales of $122.94 million per share, with estimates ranging from $121.11 million to $125.67 million. Zacks’ sales averages are an average based on a survey of analysts that cover Ooma.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The firm had revenue of $28.50 million for the quarter, compared to analyst estimates of $28.04 million. Ooma had a negative net margin of 11.65% and a negative return on equity of 32.29%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS.

OOMA has been the topic of several analyst reports. ValuEngine lowered shares of Ooma from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Northland Securities reaffirmed a “buy” rating and issued a $13.00 target price on shares of Ooma in a report on Friday, December 1st. Finally, B. Riley reaffirmed a “buy” rating and issued a $13.00 target price on shares of Ooma in a report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $12.67.

In other Ooma news, VP James A. Gustke sold 7,200 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $11.73, for a total transaction of $84,456.00. Following the sale, the vice president now owns 162,900 shares of the company’s stock, valued at approximately $1,910,817. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ravi Narula sold 3,490 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $12.02, for a total transaction of $41,949.80. Following the sale, the chief financial officer now directly owns 175,056 shares in the company, valued at approximately $2,104,173.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,405 shares of company stock worth $721,768. 11.42% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in OOMA. Wolverine Trading LLC acquired a new position in Ooma during the 3rd quarter valued at about $115,000. New York State Common Retirement Fund acquired a new position in Ooma during the 2nd quarter valued at about $144,000. Cubist Systematic Strategies LLC acquired a new position in Ooma during the 2nd quarter valued at about $186,000. Parametric Portfolio Associates LLC lifted its position in Ooma by 94.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,092 shares of the technology company’s stock valued at $193,000 after purchasing an additional 11,686 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Ooma during the 2nd quarter valued at about $195,000. Institutional investors own 72.33% of the company’s stock.

Shares of Ooma (NYSE OOMA) opened at $10.15 on Tuesday. Ooma has a fifty-two week low of $7.30 and a fifty-two week high of $12.75.

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Ooma Company Profile

Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.

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Earnings History and Estimates for Ooma (NYSE:OOMA)

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