Ooma (NYSE:OOMA) Issues Earnings Results

Ooma (NYSE:OOMA - Get Free Report) issued its earnings results on Wednesday. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.13), Zacks reports. Ooma had a negative return on equity of 2.51% and a negative net margin of 3.83%. The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $64.82 million.

Ooma Trading Up 1.4%

Shares of OOMA traded up $0.19 during mid-day trading on Friday, reaching $13.71. 162,945 shares of the company were exchanged, compared to its average volume of 122,187. Ooma has a 52 week low of $7.83 and a 52 week high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market capitalization of $377.86 million, a PE ratio of -37.05 and a beta of 1.21. The business has a 50 day simple moving average of $12.73 and a two-hundred day simple moving average of $13.78.

Wall Street Analyst Weigh In

OOMA has been the subject of a number of analyst reports. Lake Street Capital lowered their price objective on Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Benchmark raised their price objective on Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $17.63.

Institutional Investors Weigh In On Ooma

Large investors have recently added to or reduced their stakes in the business. Amundi acquired a new stake in Ooma during the first quarter worth approximately $387,000. Jane Street Group LLC grew its stake in Ooma by 162.6% during the first quarter. Jane Street Group LLC now owns 34,227 shares of the technology company's stock worth $448,000 after purchasing an additional 21,192 shares during the period. AQR Capital Management LLC acquired a new stake in Ooma during the first quarter worth approximately $478,000. Goldman Sachs Group Inc. grew its stake in Ooma by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company's stock worth $3,254,000 after purchasing an additional 11,300 shares during the period. Finally, Millennium Management LLC grew its stake in Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock worth $4,144,000 after purchasing an additional 142,220 shares during the period. Institutional investors and hedge funds own 80.42% 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.