Ooma (OOMA) got here out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.13 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 16.67%. 1 / 4 in the past, it was anticipated that this web cellphone service supplier would submit earnings of $0.10 per share when it truly produced earnings of $0.12, delivering a shock of 20%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Ooma
The sustainability of the inventory’s quick worth motion primarily based on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Ooma shares have misplaced about 24.9% because the starting of the yr versus the S&P 500’s decline of -17%.
What’s Subsequent for Ooma?
Whereas Ooma has underperformed the market up to now this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a powerful monitor file of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Ooma: combined. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You may see the whole listing of as we speak’s Zacks #1 Rank (Robust Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.11 on $57.61 million in revenues for the approaching quarter and $0.47 on $216.81 million in revenues for the present fiscal yr.
Traders must be conscious of the truth that the outlook for the trade can have a cloth impression on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Communication – Parts is presently within the prime 14% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One other inventory from the identical trade, KVH Industries (KVHI), has but to report outcomes for the quarter ended September 2022.
This maker of cellular communication and navigation tools is predicted to submit quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +120%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
KVH Industries’ revenues are anticipated to be $39.1 million, down 9% from the year-ago quarter.
Zacks Names “Single Finest Decide to Double”
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It’s a little-known chemical firm that’s up 65% over final yr, but nonetheless filth low cost. With unrelenting demand, hovering 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail traders might bounce in at any time.
This firm might rival or surpass different current Zacks’ Shares Set to Double like Boston Beer Firm which shot up +143.0% in little greater than 9 months and NVIDIA which boomed +175.9% in a single yr.
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Ooma, Inc. (OOMA) : Free Inventory Evaluation Report
KVH Industries, Inc. (KVHI) : Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
