Ooma (NYSE:OOMA) issued an update on its second quarter 2020 earnings guidance on Tuesday morning. 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 million, compared to the consensus revenue estimate of $34.6 million.Ooma also updated its FY 2020 guidance to $-0.24–0.19 EPS.

Ooma stock traded down $0.40 during trading hours 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 price-to-earnings ratio of -21.07 and a beta of 0.91. Ooma has a 1-year low of $11.57 and a 1-year high of $17.50.

Ooma (NYSE:OOMA) last released its earnings results on Tuesday, March 5th. The technology company reported ($0.16) EPS 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 anticipate that Ooma will post -0.82 earnings per share for the current year.

Several equities analysts have recently issued reports on OOMA shares. Zacks Investment Research cut shares of Ooma from a buy rating to a hold rating in a research note on Wednesday, January 30th. ValuEngine cut shares of Ooma from a strong-buy rating to a buy rating in a research note on Friday, March 1st. JMP Securities reaffirmed a buy rating and issued a $20.00 price objective on shares of Ooma in a research note on Wednesday, March 6th. Finally, B. Riley lifted their price objective on shares of Ooma from $20.00 to $20.50 and gave the stock a buy rating in a research note on Wednesday, March 6th. 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 company. The stock has an average rating of Buy and a consensus price target of $17.63.

In other news, CEO Eric B. Stang sold 12,340 shares of Ooma stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total value of $170,785.60. Following the transaction, the chief executive officer now owns 397,500 shares of the company’s stock, valued at approximately $5,501,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 13,340 shares of company stock worth $184,286 in the last ninety days. Corporate insiders own 10.19% of the company’s stock.

A hedge fund recently raised its stake in Ooma stock. Geode Capital Management LLC lifted its position in Ooma Inc (NYSE:OOMA) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,009 shares of the technology company’s stock after acquiring 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 SEC filing. Institutional investors own 74.82% of the company’s stock.

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About Ooma

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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Earnings History and Estimates for Ooma (NYSE:OOMA)

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