Wall Street analysts forecast that Ooma Inc (NYSE:OOMA) will report sales of $33.19 million for the current fiscal quarter, Zacks reports. 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 during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The company is expected to issue its next earnings results after the market closes on Tuesday, March 5th.
According to Zacks, analysts expect that Ooma will report full year sales of $127.70 million for the current fiscal year, with estimates ranging from $127.50 million to $127.85 million. For the next year, analysts expect that the business 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 research analysts that follow Ooma.
Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, November 27th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.03. The firm had revenue of $32.61 million during the quarter, compared to analysts’ expectations of $31.74 million. Ooma had a negative net margin of 11.23% and a negative return on equity of 36.56%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share.
In related news, VP James A. Gustke sold 5,500 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $13.81, for a total transaction of $75,955.00. Following the completion of the transaction, the vice president now owns 119,171 shares in the company, valued at $1,645,751.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 16,500 shares of company stock valued at $243,540. 10.47% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Ooma by 42.7% during the second quarter. BlackRock Inc. now owns 1,253,817 shares of the technology company’s stock valued at $17,742,000 after purchasing an additional 375,221 shares during the last quarter. Boston Partners lifted its position in Ooma by 30.6% during the fourth quarter. Boston Partners now owns 570,499 shares of the technology company’s stock valued at $7,919,000 after purchasing an additional 133,619 shares during the last quarter. Whetstone Capital Advisors LLC lifted its position in Ooma by 77.1% during the third quarter. Whetstone Capital Advisors LLC now owns 306,795 shares of the technology company’s stock valued at $5,093,000 after purchasing an additional 133,517 shares during the last quarter. Portolan Capital Management LLC lifted its position in Ooma by 37.6% during the fourth quarter. Portolan Capital Management LLC now owns 482,445 shares of the technology company’s stock valued at $6,696,000 after purchasing an additional 131,759 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Ooma by 7.8% during the third quarter. Renaissance Technologies LLC now owns 1,111,303 shares of the technology company’s stock valued at $18,448,000 after purchasing an additional 80,703 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.
Shares of NYSE OOMA traded up $0.01 during midday trading on Tuesday, reaching $14.80. The stock had a trading volume of 69,085 shares, compared to its average volume of 46,353. The stock has a market cap of $297.48 million, a PE ratio of -21.45 and a beta of 0.95. Ooma has a 12-month low of $9.30 and a 12-month high of $17.50.
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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