Ooma Inc. (OOMA) Issues Q4 Earnings Guidance
Ooma Inc. (NYSE:OOMA) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of ($0.04)-($0.02) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.04). The company issued revenue guidance of $27-$27.5 million, compared to the consensus revenue estimate of $28.32 million.
Shares of Ooma Inc. (NYSE:OOMA) opened at 9.50 on Wednesday. The company has a 50-day moving average of $8.82 and a 200-day moving average of $8.43. Ooma Inc. has a 12 month low of $5.43 and a 12 month high of $9.92. The stock’s market capitalization is $165.33 million.
Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, November 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Ooma had a negative net margin of 14.33% and a negative return on equity of 32.89%. The company earned $27 million during the quarter, compared to analyst estimates of $27 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts expect that Ooma Inc. will post ($0.22) EPS for the current fiscal year.
Several equities research analysts have recently issued reports on OOMA shares. Zacks Investment Research raised shares of Ooma from a sell rating to a hold rating in a research report on Tuesday, September 27th. JMP Securities increased their price objective on shares of Ooma from $12.00 to $14.00 and gave the stock a market outperform rating in a research report on Wednesday, August 31st. Bank of America Corp. reissued a buy rating and issued a $12.00 price objective on shares of Ooma in a research report on Wednesday, August 31st. B. Riley started coverage on shares of Ooma in a research report on Tuesday, October 25th. They issued a buy rating and a $15.50 price objective for the company. Finally, Credit Suisse Group AG reissued a buy rating on shares of Ooma in a research report on Wednesday, August 31st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $12.71.
In related news, VP Spencer D. Jackson sold 12,720 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $9.09, for a total transaction of $115,624.80. Following the completion of the sale, the vice president now directly owns 109,500 shares of the company’s stock, valued at approximately $995,355. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James A. Gustke sold 11,836 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $9.06, for a total transaction of $107,234.16. Following the sale, the vice president now directly owns 212,163 shares of the company’s stock, valued at $1,922,196.78. The disclosure for this sale can be found here. Corporate insiders own 48.19% of the company’s stock.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Group LTD bought a new position in shares of Ooma during the third quarter valued at $129,000. Morgan Stanley raised its position in shares of Ooma by 14.2% in the third quarter. Morgan Stanley now owns 15,967 shares of the company’s stock valued at $145,000 after buying an additional 1,991 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Ooma by 46.2% in the second quarter. BlackRock Fund Advisors now owns 22,626 shares of the company’s stock valued at $185,000 after buying an additional 7,150 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Ooma by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 58,723 shares of the company’s stock valued at $481,000 after buying an additional 3,707 shares in the last quarter. Finally, Credit Suisse AG raised its position in shares of Ooma by 1.0% in the third quarter. Credit Suisse AG now owns 111,997 shares of the company’s stock valued at $1,017,000 after buying an additional 1,146 shares in the last quarter. 25.94% of the stock is owned by institutional investors.
Ooma, Inc is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices.
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