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

Ooma (NYSE:OOMA) issued its quarterly earnings data on Tuesday. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate 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 Price Performance

Shares of OOMA stock traded down $0.10 during trading hours on Tuesday, hitting $13.78. 137,998 shares of the company’s stock were exchanged, compared to its average volume of 111,641. The firm has a 50 day moving average of $14.44 and a two-hundred day moving average of $13.03. Ooma has a fifty-two week low of $6.50 and a fifty-two week high of $17.00. The firm has a market cap of $372.03 million, a P/E ratio of -37.24 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Andrew H. Galligan sold 14,824 shares of the company’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 transaction, the director now owns 241,932 shares in the company, valued at $3,522,529.92. This represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric B. Stang sold 61,580 shares of Ooma stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the completion of the sale, the chief executive officer now owns 1,245,665 shares in the company, valued at approximately $18,809,541.50. The trade was a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,457 shares of company stock valued at $2,413,132. 9.76% of the stock is owned by corporate insiders.

About Ooma

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.