Equities Analysts Lower Earnings Estimates for Ooma Inc (NYSE:OOMA)

Equities Analysts Lower Earnings Estimates for Ooma Inc (NYSE:OOMA)

Ooma Inc (NYSE:OOMA) – Stock analysts at William Blair dropped their Q3 2020 earnings per share (EPS) estimates for shares of Ooma in a research note issued on Wednesday, August 28th, Zacks Investment Research reports. William Blair analyst B. Suri now expects that the technology company will post earnings per share of ($0.22) for the quarter, down from their previous forecast of ($0.21). William Blair also issued estimates for Ooma’s Q4 2020 earnings at ($0.25) EPS, FY2020 earnings at ($0.85) EPS, Q1 2021 earnings at ($0.18) EPS, Q2 2021 earnings at ($0.16) EPS, Q3 2021 earnings at ($0.16) EPS and Q4 2021 earnings at ($0.15) EPS.

Several other equities research analysts also recently commented on OOMA. Northland Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Ooma in a report on Wednesday, May 22nd. ValuEngine raised Ooma from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Credit Suisse Group reduced their target price on Ooma from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Finally, B. Riley reaffirmed a “buy” rating on shares of Ooma in a report on Wednesday, August 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.10.

Shares of NYSE OOMA traded down $0.80 during mid-day trading on Monday, hitting $11.66. 120,025 shares of the company traded hands, compared to its average volume of 67,532. Ooma has a 1 year low of $9.85 and a 1 year high of $17.50. The stock has a market capitalization of $260.26 million, a price-to-earnings ratio of -16.90 and a beta of 0.89. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $12.19 and a two-hundred day moving average of $12.74.

Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, August 27th. The technology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.02. Ooma had a negative return on equity of 46.20% and a negative net margin of 12.05%. The business had revenue of $37.30 million during the quarter, compared to the consensus estimate of $35.64 million. During the same period in the prior year, the business posted ($0.05) earnings per share. Ooma’s revenue was up 17.7% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of OOMA. Russell Investments Group Ltd. increased its position in Ooma by 37.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,395,008 shares of the technology company’s stock worth $14,620,000 after purchasing an additional 383,436 shares during the last quarter. Boston Partners increased its position in Ooma by 44.0% in the 2nd quarter. Boston Partners now owns 732,885 shares of the technology company’s stock worth $7,681,000 after purchasing an additional 223,850 shares during the last quarter. Wasatch Advisors Inc. increased its position in Ooma by 33.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 448,569 shares of the technology company’s stock worth $4,701,000 after purchasing an additional 112,673 shares during the last quarter. BlackRock Inc. increased its position in Ooma by 4.6% in the 2nd 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 last quarter. Finally, AWM Investment Company Inc. increased its position in Ooma by 1.9% in the 2nd quarter. AWM Investment Company Inc. now owns 1,253,006 shares of the technology company’s stock worth $13,132,000 after purchasing an additional 23,000 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

In related news, CFO Ravi Narula sold 5,611 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $11.46, for a total value of $64,302.06. Following the completion of the sale, the chief financial officer now directly owns 195,357 shares of the company’s stock, valued at approximately $2,238,791.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James A. Gustke sold 2,267 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $11.46, for a total value of $25,979.82. Following the completion of the sale, the vice president now directly owns 125,478 shares of the company’s stock, valued at $1,437,977.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,861 shares of company stock valued at $871,928. Company insiders own 10.19% of the company’s stock.

Ooma Company Profile

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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