- Ooma Inc (NYSE:OOMA) reported Q2 revenue of $47.1 million, up 14% year-on-year, beating the analyst consensus of $46.3 million. The adjusted EPS of $0.13 beat the consensus of $0.08.
- The smart communications platform sees Q3 revenue of $47.8 million – $48.5 million, above the consensus of $46.7 million. It considers an adjusted EPS of $0.08 – $0.11, above the consensus of $0.07.
- Ooma roped in Accuray Inc’s (NASDAQ:ARAY) CFO Shig Hamamatsu, as its new Finance Chief effective September 7.
- Hamamatsu succeeded the acting CFO Namrata Sabharwal.
- Analysts raised their price targets following revenue growth momentum.
- JMP Securities analyst Joe Goodwin raised the PT to $27 from $22, implying a 36.8% upside, and reiterated an Outperform.
- Goodwin noted that revenue growth accelerated as the business demonstrates solid momentum in its business subscription segment.
- Benchmark analyst Matthew Harrigan raised the PT to $30 from $27, signifying a 52.1% upside, and maintained a Buy.
- Continued momentum for Microsoft Corp (NASDAQ:MSFT) Office Pro should maintain intermediate ARPU momentum, argues Harrigan, who now models a 5.2% ARPU CAGR through FY30 versus his prior roughly 4% estimate.
- B. Riley analyst Josh Nichols raised the PT to $27.50 from $24, indicating a 39.4% upside, and affirmed a Buy.
- Nichols noted that Ooma’s “higher-value” business revenue is on track to surpass 50% of subscription and services revenue by the end of the current fiscal year while maintaining a 5% EBITDA margin floor.
- Price Action: OOMA shares traded higher by 12.87% at $22.27 on the last check Friday.
Shares Of PepsiCo Inc. (PEP) Rise Above Previous 52-Week High
Shares of PepsiCo Inc. (NASDAQ: PEP) traded at a new 52-week high today of $158.81. Approximately 337,000 shares have changed hands today, as compared to an average 30-day volume of 4 million shares.
