Ooma Inc (NYSE:OOMA) Expected to Announce Earnings of $0.01 Per Share

Wall Street analysts forecast that Ooma Inc (NYSE:OOMA) will announce earnings of $0.01 per share for the current quarter, Zacks reports. Three analysts have made estimates for Ooma’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.01. Ooma posted earnings of ($0.03) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 133.3%. The company is scheduled to announce its next quarterly earnings results on Tuesday, March 3rd.

According to Zacks, analysts expect that Ooma will report full year earnings of ($0.07) per share for the current year, with EPS estimates ranging from ($0.08) to ($0.07). For the next financial year, analysts forecast that the company will report earnings of $0.01 per share, with EPS estimates ranging from ($0.08) to $0.06. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Ooma.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Thursday, November 21st. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.22. Ooma had a negative return on equity of 46.98% and a negative net margin of 13.73%. The firm had revenue of $39.60 million during the quarter, compared to the consensus estimate of $38.39 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year.

Several equities research analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $20.50 target price on shares of Ooma in a research note on Monday, November 18th. Zacks Investment Research raised Ooma from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Thursday, November 28th. Bank of America downgraded Ooma from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. ValuEngine lowered Ooma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 23rd. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Ooma in a research report on Sunday, November 24th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Ooma currently has a consensus rating of “Hold” and a consensus target price of $17.90.

In other Ooma news, Director Andrew H. Galligan sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $10.50, for a total value of $262,500.00. Following the completion of the sale, the director now owns 160,984 shares in the company, valued at $1,690,332. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.19% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Ooma by 3.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 308,414 shares of the technology company’s stock valued at $3,245,000 after purchasing an additional 9,990 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Ooma by 18.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,650,535 shares of the technology company’s stock worth $17,169,000 after purchasing an additional 255,527 shares in the last quarter. Royal Bank of Canada acquired a new position in shares of Ooma during the 2nd quarter worth approximately $163,000. BlackRock Inc. increased its holdings in shares of Ooma by 4.6% during the second quarter. BlackRock Inc. now owns 1,596,121 shares of the technology company’s stock worth $16,727,000 after purchasing an additional 69,575 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Ooma by 58.0% during the second quarter. GSA Capital Partners LLP now owns 17,227 shares of the technology company’s stock worth $181,000 after purchasing an additional 6,327 shares during the period. Institutional investors own 76.10% of the company’s stock.

Shares of NYSE:OOMA traded up $0.04 during midday trading on Wednesday, reaching $13.91. The company’s stock had a trading volume of 200 shares, compared to its average volume of 106,009. Ooma has a fifty-two week low of $9.85 and a fifty-two week high of $16.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.89 and a current ratio of 1.13. The firm has a 50 day moving average price of $11.89 and a two-hundred day moving average price of $11.75. The firm has a market capitalization of $292.87 million, a price-to-earnings ratio of -20.29 and a beta of 0.95.

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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