Opower Inc (OPWR) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $-0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $-0.15. The company posted revenue of $36.70 million in the period, compared to analysts expectations of $36.39 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.
Many Wall Street Analysts have commented on Opower Inc. Opower Inc was Downgraded by Avondale to ” Mkt Perform” on May 3, 2016. Shares were Reiterated by Wunderlich on Mar 1, 2016 to “Buy” and Lowered the Price Target to $ 9 from a previous price target of $16 .
Opower Inc opened for trading at $10.3 and hit $10.33 on the upside on Friday, eventually ending the session at $10.33, with a gain of 0.19% or 0.02 points. The heightened volatility saw the trading volume jump to 11,64,299 shares. Company has a market cap of $549 M.
In a different news, on Mar 16, 2016, Jeremy Kirsch (EVP and GM, Worldwide Sales) sold 41,801 shares at $6.29 per share price. According to the SEC, on Feb 22, 2016, Thomas G. Kramer (Chief Financial Officer) sold 5,333 shares at $14.45 per share price. On May 29, 2015, Gene Riechers (director) sold 4,584 shares at $12.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Opower Inc. is a provider of cloud-based software to the utility industry. The Company’s software solutions are used to deliver key customer-facing applications that reduce energy demand. Its software analyzes energy data and presents insights that motivate reductions in energy consumption and lower cost-to-serve. The Company’s solutions consist of Opower Energy Efficiency which motivates customers to use less energy and participate in other energy efficiency programs; Opower Demand Response which enables utilities that have installed smart meters to engage their residential customer base in demand response programs; Opower Digital Engagement which consist of Opower Web CSR Application and Rates Engine and Opower Customer Care which is focused on reducing cost-to-serve and increasing customer satisfaction when utility customers receive a high bill. As of December 31 2014 the Company had 98 utilities in nine countries using one or more of its products.