Ooma, Inc. (OOMA) Issues FY18 Earnings Guidance
Ooma, Inc. (NYSE:OOMA) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $(0.13)-(0.08) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.11). The company issued revenue guidance of $113-116 million, compared to the consensus revenue estimate of $122.52 million.Ooma also updated its Q2 guidance to $(0.05)-(0.03) EPS.
Several equities research analysts recently commented on the company. B. Riley reaffirmed a buy rating and set a $15.50 target price on shares of Ooma in a research note on Thursday, May 18th. ValuEngine cut Ooma from a hold rating to a sell rating in a research note on Thursday, May 25th. William Blair cut Ooma from an outperform rating to a market perform rating in a research note on Wednesday, May 24th. Credit Suisse Group cut Ooma from an outperform rating to a neutral rating and reduced their price objective for the company from $16.00 to $12.00 in a research note on Wednesday, May 24th. Finally, Bank of America Corporation cut Ooma from a buy rating to an underperform rating in a research note on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $12.75.
Ooma, Inc. (NYSE:OOMA) remained flat at $8.15 on Friday. 376,145 shares of the company traded hands. Ooma, Inc. has a 1-year low of $7.67 and a 1-year high of $12.30. The firm has a 50-day moving average of $10.15 and a 200 day moving average of $9.90. The firm’s market capitalization is $148.92 million.
Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, May 23rd. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $27.58 million during the quarter, compared to the consensus estimate of $28.14 million. Ooma had a negative net margin of 11.51% and a negative return on equity of 29.82%. Ooma’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Equities research analysts anticipate that Ooma, Inc. will post ($0.11) earnings per share for the current fiscal year.
In other news, major shareholder Equity I. L.L.C. Worldview sold 144,027 shares of the business’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $9.77, for a total transaction of $1,407,143.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP James A. Gustke sold 6,000 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $9.78, for a total transaction of $58,680.00. The disclosure for this sale can be found here. Insiders own 48.19% of the company’s stock.
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Several large investors have recently made changes to their positions in OOMA. Vanguard Group Inc. raised its stake in shares of Ooma by 70.7% in the first quarter. Vanguard Group Inc. now owns 456,834 shares of the technology company’s stock worth $4,546,000 after buying an additional 189,140 shares during the period. Credit Suisse AG raised its stake in shares of Ooma by 4.7% in the first quarter. Credit Suisse AG now owns 120,696 shares of the technology company’s stock worth $1,201,000 after buying an additional 5,445 shares during the period. Morgan Stanley raised its stake in shares of Ooma by 345.8% in the first quarter. Morgan Stanley now owns 108,751 shares of the technology company’s stock worth $1,082,000 after buying an additional 84,354 shares during the period. Geode Capital Management LLC raised its stake in shares of Ooma by 118.5% in the first quarter. Geode Capital Management LLC now owns 105,441 shares of the technology company’s stock worth $1,049,000 after buying an additional 57,184 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Ooma by 58.6% in the first quarter. Goldman Sachs Group Inc. now owns 34,966 shares of the technology company’s stock worth $348,000 after buying an additional 12,923 shares during the period. 74.66% of the stock is currently owned by hedge funds and other institutional investors.
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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