Ooma Inc. (OOMA) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Ooma Inc. (NYSE:OOMA) posted its quarterly earnings results on Tuesday. The company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. The business earned $27 million during the quarter, compared to the consensus estimate of $27 million. Ooma had a negative return on equity of 32.89% and a negative net margin of 14.33%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share. Ooma updated its Q4 guidance to ($0.04)-($0.02) EPS.
Ooma (NYSE:OOMA) opened at 9.30 on Thursday. Ooma has a one year low of $5.43 and a one year high of $9.92. The firm has a 50-day moving average of $8.83 and a 200-day moving average of $8.45. The company’s market cap is $161.85 million.
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In other Ooma news, VP James A. Gustke sold 4,000 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $9.01, for a total transaction of $36,040.00. Following the completion of the transaction, the vice president now owns 222,163 shares of the company’s stock, valued at approximately $2,001,688.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Russell Mann sold 27,000 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $8.80, for a total transaction of $237,600.00. Following the transaction, the director now directly owns 55,974 shares of the company’s stock, valued at approximately $492,571.20. The disclosure for this sale can be found here. 48.19% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Credit Suisse AG raised its position in Ooma by 1.0% in the third quarter. Credit Suisse AG now owns 111,997 shares of the company’s stock worth $1,017,000 after buying an additional 1,146 shares in the last quarter. Park West Asset Management LLC raised its position in Ooma by 37.6% in the third quarter. Park West Asset Management LLC now owns 770,563 shares of the company’s stock worth $6,997,000 after buying an additional 210,377 shares in the last quarter. Morgan Stanley raised its position in Ooma by 14.2% in the third quarter. Morgan Stanley now owns 15,967 shares of the company’s stock worth $145,000 after buying an additional 1,991 shares in the last quarter. Emerald Acquisition Ltd. raised its position in Ooma by 30.3% in the third quarter. Emerald Acquisition Ltd. now owns 123,942 shares of the company’s stock worth $1,126,000 after buying an additional 28,832 shares in the last quarter. Finally, Boston Partners raised its position in Ooma by 43.7% in the third quarter. Boston Partners now owns 406,421 shares of the company’s stock worth $3,690,000 after buying an additional 123,647 shares in the last quarter. 25.94% of the stock is owned by hedge funds and other institutional investors.
OOMA has been the subject of a number of research reports. Bank of America Corp. reiterated a “buy” rating and issued a $12.00 price target on shares of Ooma in a research note on Wednesday, August 31st. Credit Suisse Group AG reiterated a “buy” rating on shares of Ooma in a research note on Wednesday, August 31st. Zacks Investment Research upgraded Ooma from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. B. Riley initiated coverage on Ooma in a research note on Tuesday, October 25th. They issued a “buy” rating and a $15.50 price target for the company. Finally, JMP Securities lifted their price target on Ooma from $12.00 to $14.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $12.71.
Ooma Company Profile
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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