Ooma Inc (NYSE:OOMA) Expected to Post Earnings of -$0.07 Per Share

Brokerages expect that Ooma Inc (NYSE:OOMA) will announce earnings of ($0.07) per share for the current quarter, Zacks reports. Three analysts have made estimates for Ooma’s earnings, with estimates ranging from ($0.07) to ($0.06). Ooma posted earnings of ($0.05) per share during the same quarter last year, which indicates a negative year over year growth rate of 40%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 27th.

On average, analysts expect that Ooma will report full year earnings of ($0.22) per share for the current financial year, with EPS estimates ranging from ($0.24) to ($0.20). For the next year, analysts forecast that the firm will report earnings of ($0.12) per share, with EPS estimates ranging from ($0.18) to ($0.06). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Ooma.

Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, May 21st. The technology company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $34.01 million for the quarter, compared to analysts’ expectations of $33.64 million. Ooma had a negative return on equity of 42.05% and a negative net margin of 11.75%.

A number of equities research analysts have issued reports on the company. ValuEngine cut Ooma from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. B. Riley raised their target price on Ooma from $20.00 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, March 6th. JMP Securities reissued a “buy” rating and set a $20.00 price target on shares of Ooma in a report on Wednesday, March 6th. Zacks Investment Research lowered Ooma from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Northland Securities reissued a “buy” rating and set a $18.00 price target on shares of Ooma in a report on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ooma has a consensus rating of “Buy” and a consensus price target of $17.70.

OOMA stock traded down $0.30 during mid-day trading on Tuesday, reaching $11.90. The company had a trading volume of 68,300 shares, compared to its average volume of 57,843. The stock has a market capitalization of $245.45 million, a price-to-earnings ratio of -17.22 and a beta of 1.02. Ooma has a one year low of $11.28 and a one year high of $17.50.

In other news, CEO Eric B. Stang sold 12,340 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 397,500 shares of the company’s stock, valued at $5,501,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 13,340 shares of company stock worth $184,286 over the last three months. Corporate insiders own 10.19% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Ooma by 121.1% during the fourth quarter. Barclays PLC now owns 15,580 shares of the technology company’s stock valued at $216,000 after purchasing an additional 8,535 shares during the period. Alambic Investment Management L.P. grew its holdings in Ooma by 24.2% during the fourth quarter. Alambic Investment Management L.P. now owns 89,362 shares of the technology company’s stock worth $1,240,000 after acquiring an additional 17,429 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 44,662 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Ooma by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock worth $88,000 after acquiring an additional 4,960 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Ooma by 1.3% during the third quarter. Vanguard Group Inc. now owns 794,173 shares of the technology company’s stock worth $13,184,000 after acquiring an additional 10,313 shares during the period. 75.98% of the stock is currently owned by institutional investors.

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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