Ooma (NYSE:OOMA) Issues Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Ooma (NYSE:OOMA) announced its quarterly earnings results on Tuesday. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11), Zacks reports. Ooma had a negative net margin of 3.83% and a negative return on equity of 2.51%.

Ooma Trading Down 0.7 %

Shares of OOMA traded down $0.10 during trading hours on Tuesday, reaching $13.78. 137,998 shares of the company traded hands, compared to its average volume of 111,641. The stock’s fifty day moving average price is $14.44 and its 200 day moving average price is $13.03. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The firm has a market cap of $372.03 million, a price-to-earnings ratio of -37.24 and a beta of 0.96. Ooma has a 12-month low of $6.50 and a 12-month high of $17.00.

Insider Buying and Selling

In other Ooma news, CEO Eric B. Stang sold 61,580 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $15.10, for a total transaction of $929,858.00. Following the transaction, the chief executive officer now owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew H. Galligan sold 14,824 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total transaction of $215,837.44. Following the completion of the sale, the director now owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. This represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,457 shares of company stock valued at $2,413,132 in the last 90 days. Company insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OOMA shares. Lake Street Capital boosted their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. B. Riley boosted their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Northland Securities upped their target price on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Benchmark increased their price target on Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.60.

Ooma Company Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.