Ooma (NYSE:OOMA) Releases Earnings Results, Misses Estimates By $0.13 EPS

Ooma (NYSE:OOMA) posted its quarterly earnings data on Wednesday. The technology company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.13), Zacks reports. Ooma had a negative net margin of 3.83% and a negative return on equity of 2.51%.

Ooma Stock Performance

Shares of OOMA stock traded down $0.06 on Wednesday, hitting $13.42. 151,163 shares of the stock traded hands, compared to its average volume of 123,951. Ooma has a 1-year low of $7.62 and a 1-year high of $17.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82. The company’s fifty day moving average is $12.74 and its 200 day moving average is $13.78. The company has a market capitalization of $369.87 million, a PE ratio of -36.27 and a beta of 1.21.

Institutional Investors Weigh In On Ooma

Several large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in Ooma by 162.6% in the first quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock worth $448,000 after buying an additional 21,192 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Ooma by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock valued at $3,254,000 after purchasing an additional 11,300 shares during the period. Millennium Management LLC increased its holdings in shares of Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock valued at $4,144,000 after purchasing an additional 142,220 shares during the period. AQR Capital Management LLC acquired a new position in shares of Ooma during the first quarter valued at $478,000. Finally, Amundi acquired a new position in shares of Ooma during the first quarter valued at $387,000. 80.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on OOMA shares. Benchmark boosted their target price on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Lake Street Capital decreased their price target on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ooma presently has a consensus rating of “Buy” and a consensus target price of $17.63.

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.