Ooma Inc. (OOMA) Updates Q4 Earnings Guidance
Ooma Inc. (NYSE:OOMA) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.04)-($0.02) for the period, compared to the Thomson Reuters consensus estimate of ($0.04). The company issued revenue guidance of $27-$27.5 million, compared to the consensus revenue estimate of $28.32 million.
Ooma Inc. (NYSE:OOMA) traded up 4.40% during midday trading on Tuesday, hitting $9.50. 274,716 shares of the company were exchanged. The stock’s market capitalization is $165.33 million. Ooma Inc. has a one year low of $5.43 and a one year high of $9.92. The firm’s 50-day moving average price is $8.82 and its 200-day moving average price is $8.43.
OOMA has been the topic of a number of recent research reports. Credit Suisse Group AG reaffirmed a buy rating on shares of Ooma in a research report on Wednesday, August 31st. Bank of America Corp. reissued a buy rating and issued a $12.00 target price on shares of Ooma in a report on Wednesday, August 31st. B. Riley reissued a buy rating and issued a $15.50 target price on shares of Ooma in a report on Monday. Zacks Investment Research raised shares of Ooma from a sell rating to a hold rating in a report on Wednesday, August 3rd. Finally, JMP Securities raised their target price on shares of Ooma from $12.00 to $14.00 and gave the company a market outperform rating in a report on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $12.71.
In related news, VP Spencer D. Jackson sold 12,720 shares of Ooma stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $9.09, for a total transaction of $115,624.80. Following the sale, the vice president now directly owns 109,500 shares in the company, valued at approximately $995,355. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Russell Mann sold 27,000 shares of Ooma stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $8.80, for a total transaction of $237,600.00. Following the sale, the director now owns 55,974 shares in the company, valued at $492,571.20. The disclosure for this sale can be found here. 48.19% of the stock is currently owned by insiders.
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A number of large investors have recently bought and sold shares of OOMA. Credit Suisse AG increased its stake in Ooma by 1.0% in the third quarter. Credit Suisse AG now owns 111,997 shares of the company’s stock valued at $1,017,000 after buying an additional 1,146 shares in the last quarter. Morgan Stanley increased its stake in Ooma by 14.2% in the third quarter. Morgan Stanley now owns 15,967 shares of the company’s stock valued at $145,000 after buying an additional 1,991 shares in the last quarter. Emerald Acquisition Ltd. increased its stake in Ooma by 30.3% in the third quarter. Emerald Acquisition Ltd. now owns 123,942 shares of the company’s stock valued at $1,126,000 after buying an additional 28,832 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Ooma by 25.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 73,809 shares of the company’s stock valued at $670,000 after buying an additional 15,086 shares in the last quarter. Finally, BlackRock Group LTD acquired a new stake in Ooma during the third quarter valued at approximately $129,000. Institutional investors and hedge funds own 25.94% of the company’s stock.
Ooma, Inc is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices.
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