Ooma Inc Forecasted to Earn FY2018 Earnings of ($0.66) Per Share (OOMA)
Ooma Inc (NYSE:OOMA) – Analysts at B. Riley upped their FY2018 earnings per share (EPS) estimates for shares of Ooma in a note issued to investors on Wednesday. B. Riley analyst J. Nichols now anticipates that the technology company will earn ($0.66) per share for the year, up from their previous estimate of ($0.76). B. Riley has a “Buy” rating and a $13.00 price target on the stock. B. Riley also issued estimates for Ooma’s Q4 2018 earnings at ($0.18) EPS, Q3 2019 earnings at ($0.12) EPS and FY2019 earnings at ($0.54) EPS.
Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $28.50 million for the quarter, compared to the consensus estimate of $28.04 million. Ooma had a negative net margin of 11.15% and a negative return on equity of 32.88%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.02) EPS.
Separately, Northland Securities reissued a “buy” rating and issued a $10.75 price objective on shares of Ooma in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.67.
Shares of Ooma (NYSE:OOMA) traded up $0.15 during midday trading on Monday, hitting $11.15. 55,699 shares of the stock were exchanged, compared to its average volume of 141,208. Ooma has a 12-month low of $7.30 and a 12-month high of $12.30.
A number of institutional investors and hedge funds have recently made changes to their positions in OOMA. Wolverine Trading LLC bought a new stake in Ooma in the third quarter worth $115,000. Rhumbline Advisers bought a new stake in Ooma in the second quarter worth $128,000. New York State Common Retirement Fund bought a new stake in Ooma in the second quarter worth $144,000. Menta Capital LLC increased its position in Ooma by 58.3% in the second quarter. Menta Capital LLC now owns 19,345 shares of the technology company’s stock worth $155,000 after purchasing an additional 7,123 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Ooma in the second quarter worth $186,000. Institutional investors own 75.13% of the company’s stock.
In other news, Director Russell Mann sold 32,500 shares of Ooma stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $10.46, for a total transaction of $339,950.00. Following the sale, the director now owns 81,279 shares in the company, valued at $850,178.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Eric B. Stang sold 10,000 shares of Ooma stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $11.22, for a total transaction of $112,200.00. Following the sale, the chief executive officer now owns 1,257,704 shares in the company, valued at approximately $14,111,438.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,371 shares of company stock worth $783,751. 11.42% of the stock is owned by company insiders.
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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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