Ooma (NYSE:OOMA) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Ooma (NYSE:OOMA) issued its earnings results on Tuesday. The technology company reported $0.05 earnings per share 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

Ooma stock traded down $0.10 during trading hours on Tuesday, hitting $13.78. 137,998 shares of the company traded hands, compared to its average volume of 107,571. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $372.03 million, a P/E ratio of -37.24 and a beta of 0.96. The firm’s 50-day simple moving average is $14.44 and its two-hundred day simple moving average is $13.03.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, SVP James A. Gustke sold 3,582 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $17.00, for a total value of $60,894.00. Following the sale, the senior vice president now directly owns 27,675 shares in the company, valued at $470,475. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Galligan sold 14,824 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total value of $215,837.44. Following the sale, the director now directly owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,457 shares of company stock valued at $2,413,132 over the last quarter. Corporate insiders own 9.76% of the company’s stock.

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.