Brokerages Expect Ooma Inc (OOMA) Will Announce Earnings of -$0.04 Per Share

Wall Street brokerages forecast that Ooma Inc (NYSE:OOMA) will post earnings of ($0.04) per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Ooma’s earnings. Ooma reported earnings of ($0.01) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 300%. The firm is expected to report its next earnings results on Tuesday, March 6th.

On average, analysts expect that Ooma will report full-year earnings of ($0.10) per share for the current year, with EPS estimates ranging from ($0.11) to ($0.09). For the next year, analysts anticipate that the company will post earnings of ($0.02) per share, with EPS estimates ranging from ($0.08) to $0.02. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Ooma.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $28.50 million during the quarter, compared to analysts’ expectations of $28.04 million. Ooma had a negative return on equity of 32.00% and a negative net margin of 11.65%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.02) earnings per share.

OOMA has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and set a $13.00 target price on shares of Ooma in a research report on Friday, September 1st. Northland Securities reiterated a “buy” rating and set a $10.75 target price on shares of Ooma in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.67.

Shares of Ooma (OOMA) opened at $11.15 on Tuesday. Ooma has a 1 year low of $7.30 and a 1 year high of $12.30.

In related news, CEO Eric B. Stang sold 10,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $11.22, for a total transaction of $112,200.00. Following the completion of the sale, the chief executive officer now owns 1,257,704 shares in the company, valued at $14,111,438.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James A. Gustke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $9.81, for a total value of $49,050.00. Following the transaction, the vice president now owns 196,333 shares of the company’s stock, valued at approximately $1,926,026.73. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock valued at $783,751 in the last quarter. 11.42% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in Ooma by 345.8% during the 1st quarter. Morgan Stanley now owns 108,751 shares of the technology company’s stock valued at $1,082,000 after buying an additional 84,354 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ooma by 118.5% during the 1st quarter. Geode Capital Management LLC now owns 105,441 shares of the technology company’s stock valued at $1,049,000 after buying an additional 57,184 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Ooma by 187.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,044 shares of the technology company’s stock valued at $441,000 after buying an additional 35,894 shares in the last quarter. PDT Partners LLC purchased a new position in Ooma during the 2nd quarter valued at approximately $421,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Ooma during the 2nd quarter valued at approximately $374,000. Institutional investors and hedge funds own 75.13% of the company’s stock.

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About Ooma

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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