B. Riley Comments on Ooma, Inc.’s Q1 2019 Earnings (OOMA)
Ooma, Inc. (NYSE:OOMA) – Stock analysts at B. Riley issued their Q1 2019 earnings per share (EPS) estimates for Ooma in a report released on Wednesday. B. Riley analyst J. Nichols expects that the technology company will post earnings of ($0.17) per share for the quarter. B. Riley currently has a “Buy” rating and a $13.00 target price on the stock. B. Riley also issued estimates for Ooma’s Q2 2019 earnings at ($0.14) EPS and Q4 2019 earnings at ($0.10) EPS.
Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $28.04 million. Ooma had a negative return on equity of 32.00% and a negative net margin of 11.65%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS.
Separately, Northland Securities reiterated a “buy” rating and set a $13.00 price target on shares of Ooma in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $12.67.
Shares of Ooma (NYSE OOMA) traded up $0.30 during trading on Friday, hitting $11.35. The stock had a trading volume of 89,370 shares, compared to its average volume of 141,919. Ooma has a fifty-two week low of $7.30 and a fifty-two week high of $12.30.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC bought a new position in Ooma during the 3rd quarter valued at $501,000. Sterling Capital Management LLC boosted its stake in Ooma by 65.1% during the 3rd quarter. Sterling Capital Management LLC now owns 68,706 shares of the technology company’s stock valued at $725,000 after purchasing an additional 27,097 shares in the last quarter. Wolverine Trading LLC bought a new position in Ooma during the 3rd quarter valued at $115,000. Royce & Associates LP boosted its stake in Ooma by 13.7% during the 3rd quarter. Royce & Associates LP now owns 568,728 shares of the technology company’s stock valued at $6,000,000 after purchasing an additional 68,380 shares in the last quarter. Finally, B. Riley Financial Inc. lifted its position in shares of Ooma by 62.7% during the 3rd quarter. B. Riley Financial Inc. now owns 188,526 shares of the technology company’s stock valued at $2,015,000 after acquiring an additional 72,681 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.
In other Ooma news, VP James A. Gustke sold 7,200 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $10.35, for a total transaction of $74,520.00. Following the completion of the transaction, the vice president now directly owns 182,174 shares of the company’s stock, valued at approximately $1,885,500.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Russell Mann sold 32,500 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $10.46, for a total value of $339,950.00. Following the transaction, the director now directly owns 81,279 shares of the company’s stock, valued at $850,178.34. The disclosure for this sale can be found here. Insiders sold a total of 66,371 shares of company stock valued at $671,551 over the last three months. Corporate insiders own 11.42% of the company’s stock.
Ooma Company Profile
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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