Analysts Anticipate Ooma Inc (OOMA) Will Post Quarterly Sales of $33.19 Million
Wall Street brokerages expect Ooma Inc (NYSE:OOMA) to post sales of $33.19 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ooma’s earnings, with estimates ranging from $33.00 million to $33.34 million. Ooma reported sales of $30.22 million in the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The company is expected to issue its next earnings report on Tuesday, March 5th.
According to Zacks, analysts expect that Ooma will report full year sales of $127.70 million for the current year, with estimates ranging from $127.50 million to $127.85 million. For the next fiscal year, analysts forecast that the firm will report sales of $140.01 million, with estimates ranging from $136.80 million to $142.09 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Ooma.
Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, November 27th. The technology company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. The firm had revenue of $32.61 million for the quarter, compared to the consensus estimate of $31.74 million. Ooma had a negative net margin of 11.23% and a negative return on equity of 36.11%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS.
In other news, VP James A. Gustke sold 5,500 shares of Ooma stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $16.38, for a total value of $90,090.00. Following the sale, the vice president now directly owns 138,275 shares in the company, valued at $2,264,944.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric B. Stang sold 19,030 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $15.82, for a total transaction of $301,054.60. Following the completion of the transaction, the chief executive officer now directly owns 372,500 shares of the company’s stock, valued at $5,892,950. The disclosure for this sale can be found here. Insiders sold 51,594 shares of company stock worth $789,464 over the last quarter. 10.47% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Ooma by 27.0% in the third quarter. BlackRock Inc. now owns 1,592,897 shares of the technology company’s stock valued at $26,443,000 after buying an additional 339,080 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Ooma by 7.8% in the third quarter. Renaissance Technologies LLC now owns 1,111,303 shares of the technology company’s stock valued at $18,448,000 after buying an additional 80,703 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Ooma by 1.3% in the third quarter. Vanguard Group Inc. now owns 794,173 shares of the technology company’s stock valued at $13,184,000 after buying an additional 10,313 shares in the last quarter. Boston Partners grew its stake in shares of Ooma by 2.3% in the second quarter. Boston Partners now owns 630,330 shares of the technology company’s stock valued at $8,919,000 after buying an additional 14,300 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Ooma by 0.6% in the second quarter. Royce & Associates LP now owns 576,835 shares of the technology company’s stock valued at $8,162,000 after buying an additional 3,233 shares in the last quarter. 76.63% of the stock is owned by institutional investors and hedge funds.
OOMA stock traded down $0.24 during mid-day trading on Wednesday, hitting $13.97. 50,249 shares of the company were exchanged, compared to its average volume of 61,366. The company has a market capitalization of $278.52 million, a P/E ratio of -20.25 and a beta of 0.96. Ooma has a 1-year low of $9.30 and a 1-year high of $17.50.
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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