Ooma (NYSE:OOMA) announced its quarterly earnings data on Tuesday. The technology company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01, Bloomberg Earnings reports. Ooma had a negative net margin of 11.45% and a negative return on equity of 33.52%. The business had revenue of $31.68 million for the quarter, compared to analyst estimates of $30.88 million. During the same period last year, the business earned ($0.02) EPS. The company’s revenue was up 12.4% on a year-over-year basis. Ooma updated its Q3 guidance to $(0.07)-(0.04) EPS and its FY19 guidance to $(0.23)-(0.18) EPS.
Shares of NYSE:OOMA opened at $16.50 on Thursday. Ooma has a 12 month low of $9.00 and a 12 month high of $16.95.
In related news, VP James A. Gustke sold 7,200 shares of Ooma stock in a transaction on Friday, June 1st. The shares were sold at an average price of $11.97, for a total transaction of $86,184.00. Following the sale, the vice president now directly owns 150,964 shares in the company, valued at approximately $1,807,039.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric B. Stang sold 10,000 shares of Ooma stock in a transaction on Monday, June 4th. The stock was sold at an average price of $11.92, for a total transaction of $119,200.00. Following the sale, the chief executive officer now owns 397,500 shares in the company, valued at $4,738,200. The disclosure for this sale can be found here. Insiders have sold a total of 46,945 shares of company stock worth $611,155 over the last quarter. 10.47% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Ooma from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. B. Riley lifted their price target on shares of Ooma from $14.00 to $15.50 and gave the stock a “buy” rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Ooma from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, Credit Suisse Group assumed coverage on shares of Ooma in a research note on Friday, August 10th. They set a “neutral” rating and a $13.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.50.
Ooma Company Profile
Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.
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