Ooma (NYSE:OOMA) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of ($0.07)-($0.05) for the period, compared to the Thomson Reuters consensus estimate of ($0.04). The company issued revenue guidance of $35.5-$36.0 million, compared to the consensus revenue estimate of $34.60 million.Ooma also updated its FY 2020 guidance to $-0.24–0.19 EPS.
Several research firms have issued reports on OOMA. ValuEngine cut shares of Ooma from a strong-buy rating to a buy rating in a research note on Friday, March 1st. B. Riley raised their price objective on shares of Ooma from $20.00 to $20.50 and gave the company a buy rating in a research report on Wednesday, March 6th. JMP Securities restated a buy rating and set a $20.00 price objective on shares of Ooma in a research report on Wednesday, March 6th. Finally, Zacks Investment Research cut shares of Ooma from a hold rating to a sell rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $17.63.
Shares of Ooma stock traded down $0.40 on Tuesday, hitting $14.54. 174,770 shares of the company traded hands, compared to its average volume of 54,254. The stock has a market cap of $285.88 million, a P/E ratio of -21.07 and a beta of 0.91. Ooma has a 12-month low of $11.57 and a 12-month high of $17.50.
Ooma (NYSE:OOMA) last posted its quarterly earnings data on Tuesday, March 5th. The technology company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. The firm had revenue of $34.72 million for the quarter, compared to analysts’ expectations of $33.19 million. Ooma had a negative net margin of 11.28% and a negative return on equity of 39.40%. On average, equities research analysts forecast that Ooma will post -0.82 EPS for the current year.
In other news, CEO Eric B. Stang sold 12,340 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total transaction of $170,785.60. Following the sale, the chief executive officer now owns 397,500 shares in the company, valued at approximately $5,501,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 13,340 shares of company stock worth $184,286. Corporate insiders own 10.19% of the company’s stock.
An institutional investor recently raised its position in Ooma stock. Geode Capital Management LLC lifted its holdings in shares of Ooma Inc (NYSE:OOMA) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 220,009 shares of the technology company’s stock after purchasing an additional 12,220 shares during the period. Geode Capital Management LLC owned about 1.09% of Ooma worth $3,052,000 as of its most recent filing with the SEC. Institutional investors own 74.82% of the company’s stock.
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Ooma Company Profile
Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.
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