Ooma (NYSE:OOMA) released its earnings results on Tuesday. The technology company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01, Morningstar.com reports. Ooma had a negative return on equity of 39.40% and a negative net margin of 11.28%. The firm had revenue of $34.01 million for the quarter, compared to the consensus estimate of $33.64 million.

Shares of Ooma stock traded down $1.92 during trading hours on Wednesday, reaching $12.62. The stock had a trading volume of 1,675 shares, compared to its average volume of 54,254. The company has a market cap of $285.88 million, a price-to-earnings ratio of -18.35 and a beta of 0.91. Ooma has a 1 year low of $11.57 and a 1 year high of $17.50.

Several equities analysts recently weighed in on the company. Northland Securities reiterated a “buy” rating and set a $18.00 target price on shares of Ooma in a research report on Wednesday. Zacks Investment Research downgraded Ooma from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. ValuEngine downgraded Ooma from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 24th. JMP Securities reiterated a “buy” rating and set a $20.00 target price on shares of Ooma in a research report on Wednesday, March 6th. Finally, B. Riley increased their target price on Ooma from $20.00 to $20.50 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.70.

In other news, CEO Eric B. Stang sold 12,340 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $13.84, for a total value of $170,785.60. Following the transaction, the chief executive officer now directly owns 397,500 shares in the company, valued at approximately $5,501,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 13,340 shares of company stock worth $184,286. Company insiders own 10.19% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in Ooma by 32.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 76,898 shares of the technology company’s stock valued at $1,277,000 after acquiring an additional 18,652 shares in the last quarter. BlackRock Inc. grew its position in shares of Ooma by 27.0% during the third quarter. BlackRock Inc. now owns 1,592,897 shares of the technology company’s stock worth $26,443,000 after buying an additional 339,080 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Ooma by 19.4% during the third quarter. JPMorgan Chase & Co. now owns 275,444 shares of the technology company’s stock worth $4,573,000 after buying an additional 44,662 shares in the last quarter. Man Group plc grew its position in shares of Ooma by 21.6% during the third quarter. Man Group plc now owns 29,300 shares of the technology company’s stock worth $486,000 after buying an additional 5,200 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Ooma during the third quarter worth about $235,000. Institutional investors own 74.82% of the company’s stock.

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Ooma Company Profile

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 for Ooma (NYSE:OOMA)

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