Brokerages expect Ooma Inc (NYSE:OOMA) to announce ($0.06) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ooma’s earnings. The lowest EPS estimate is ($0.06) and the highest is ($0.05). Ooma reported earnings per share of ($0.02) in the same quarter last year, which suggests a negative year over year growth rate of 200%. The company is expected to report its next quarterly earnings report on Thursday, August 23rd.
According to Zacks, analysts expect that Ooma will report full year earnings of ($0.19) per share for the current fiscal year, with EPS estimates ranging from ($0.21) to ($0.18). For the next year, analysts forecast that the company will report earnings of ($0.04) per share, with EPS estimates ranging from ($0.10) to $0.01. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Ooma.
Ooma (NYSE:OOMA) last released its quarterly earnings results on Tuesday, May 22nd. The technology company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $30.22 million during the quarter, compared to analysts’ expectations of $29.71 million. Ooma had a negative return on equity of 33.52% and a negative net margin of 11.45%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS.
OOMA has been the subject of several research reports. Bank of America raised Ooma from an “underperform” rating to a “neutral” rating and set a $14.00 price target for the company in a report on Wednesday, March 7th. B. Riley lifted their price target on Ooma from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. Credit Suisse Group reissued a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Ooma in a report on Wednesday, March 7th. Northland Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Ooma in a report on Wednesday, March 7th. Finally, Zacks Investment Research cut Ooma from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.38.
NYSE:OOMA traded up $0.50 during mid-day trading on Friday, hitting $13.15. 571,900 shares of the stock were exchanged, compared to its average volume of 83,421. Ooma has a fifty-two week low of $7.30 and a fifty-two week high of $13.65.
In other Ooma news, CFO Ravi Narula sold 13,599 shares of Ooma stock in a transaction on Friday, May 18th. The stock was sold at an average price of $12.04, for a total value of $163,731.96. Following the completion of the transaction, the chief financial officer now directly owns 201,196 shares of the company’s stock, valued at approximately $2,422,399.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric B. Stang sold 10,000 shares of Ooma stock in a transaction on Monday, June 4th. The shares were sold at an average price of $11.92, for a total value of $119,200.00. Following the completion of the transaction, the chief executive officer now directly owns 397,500 shares of the company’s stock, valued at $4,738,200. The disclosure for this sale can be found here. Insiders sold a total of 55,210 shares of company stock valued at $656,644 over the last ninety days. Insiders own 10.47% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in Ooma by 29.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 37,100 shares of the technology company’s stock valued at $405,000 after acquiring an additional 8,400 shares in the last quarter. American Century Companies Inc. raised its holdings in Ooma by 20.9% in the 1st quarter. American Century Companies Inc. now owns 39,009 shares of the technology company’s stock valued at $425,000 after acquiring an additional 6,749 shares in the last quarter. Deutsche Bank AG raised its holdings in Ooma by 35.7% in the 4th quarter. Deutsche Bank AG now owns 44,790 shares of the technology company’s stock valued at $533,000 after acquiring an additional 11,791 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in Ooma in the 1st quarter valued at $523,000. Finally, EAM Investors LLC acquired a new position in Ooma in the 4th quarter valued at $698,000. 66.86% of the stock is owned by hedge funds and other institutional investors.
Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.
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