Ooma (NYSE:OOMA) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided EPS guidance of ($0.24)-($0.19) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.19). The company issued revenue guidance of $145-$148 million, compared to the consensus revenue estimate of $141.70 million.Ooma also updated its FY 2020 guidance to $-0.24–0.19 EPS.

Shares of OOMA traded down $0.40 on Tuesday, hitting $14.54. The company’s stock had a trading volume of 174,770 shares, compared to its average volume of 54,254. Ooma has a fifty-two week low of $11.57 and a fifty-two week high of $17.50. The firm has a market capitalization of $285.88 million, a PE ratio of -21.07 and a beta of 0.91.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, March 5th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. Ooma had a negative return on equity of 39.40% and a negative net margin of 11.28%. The business had revenue of $34.72 million during the quarter, compared to analyst estimates of $33.19 million. As a group, research analysts anticipate that Ooma will post -0.82 EPS for the current fiscal year.

OOMA has been the subject of several research analyst reports. Zacks Investment Research upgraded Ooma from a sell rating to a hold rating in a research report on Saturday, April 20th. ValuEngine upgraded Ooma from a buy rating to a strong-buy rating in a research report on Wednesday, April 3rd. B. Riley boosted their price objective on Ooma from $20.00 to $20.50 and gave the company a buy rating in a research report on Wednesday, March 6th. Finally, JMP Securities reiterated a buy rating and issued a $20.00 price objective on shares of Ooma in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $17.63.

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

A hedge fund recently raised its stake in Ooma stock. Geode Capital Management LLC grew its position in shares of Ooma Inc (NYSE:OOMA) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,009 shares of the technology company’s stock after acquiring an additional 12,220 shares during the quarter. Geode Capital Management LLC owned 1.09% of Ooma worth $3,052,000 at the end of the most recent reporting period. 74.82% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Ooma (OOMA) Issues FY20 Earnings Guidance” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this piece of content on another site, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://theolympiareport.com/2019/05/21/ooma-ooma-issues-fy20-earnings-guidance.html.

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.

Recommended Story: P/E Growth (PEG)

Earnings History and Estimates for Ooma (NYSE:OOMA)

Receive News & Ratings for Ooma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ooma and related companies with MarketBeat.com's FREE daily email newsletter.