Ooma (NYSE:OOMA) issued an update on its FY 2020 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $-0.24–0.19 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.19. The company issued revenue guidance of $145-148 million, compared to the consensus revenue estimate of $141.69 million.Ooma also updated its FY20 guidance to ($0.24)-($0.19) EPS.

Shares of NYSE OOMA opened at $14.54 on Wednesday. Ooma has a 12-month low of $11.57 and a 12-month high of $17.50. The stock has a market cap of $285.88 million, a P/E ratio of -21.07 and a beta of 0.91.

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

Several analysts have recently weighed in on the stock. Northland Securities reissued a buy rating and issued a $18.00 price target on shares of Ooma in a research note on Wednesday. ValuEngine raised shares of Ooma from a buy rating to a strong-buy rating in a research note on Tuesday, May 14th. Finally, Zacks Investment Research raised shares of Ooma from a sell rating to a hold rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $17.70.

In other news, CEO Eric B. Stang sold 12,340 shares of the company’s 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 directly owns 397,500 shares in the company, valued at approximately $5,501,400. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 13,340 shares of company stock valued at $184,286. Corporate insiders own 10.19% of the company’s stock.

A hedge fund recently raised its stake in Ooma stock. Geode Capital Management LLC boosted its holdings in shares of Ooma Inc (NYSE:OOMA) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,009 shares of the technology company’s stock after buying an additional 12,220 shares during the quarter. Geode Capital Management LLC owned 1.09% of Ooma worth $3,052,000 as of its most recent SEC filing. Institutional investors and hedge funds own 74.82% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Ooma (OOMA) Updates FY 2020 Earnings Guidance” was reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://theolympiareport.com/2019/05/22/ooma-ooma-updates-fy-2020-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.

Read More: What are the most popular ETFs

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.