Analysts Issue Forecasts for Otonomo Technologies Ltd.’s FY2022 Earnings (NASDAQ:OTMO)

Otonomo Technologies Ltd. (NASDAQ:OTMOGet Rating) – Research analysts at B. Riley lifted their FY2022 earnings estimates for Otonomo Technologies in a report issued on Monday, May 2nd. B. Riley analyst J. Nichols now expects that the company will post earnings per share of ($0.53) for the year, up from their prior forecast of ($0.56). B. Riley also issued estimates for Otonomo Technologies’ FY2023 earnings at ($0.56) EPS, FY2024 earnings at ($0.28) EPS and FY2025 earnings at $0.53 EPS.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Otonomo Technologies from a “hold” rating to a “sell” rating in a report on Thursday, March 31st. Needham & Company LLC reduced their price target on Otonomo Technologies from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 2nd.

OTMO stock opened at $1.52 on Wednesday. The firm has a 50-day moving average of $1.66 and a two-hundred day moving average of $2.84. Otonomo Technologies has a 12 month low of $1.15 and a 12 month high of $10.05.

Several large investors have recently modified their holdings of OTMO. Millennium Management LLC increased its holdings in shares of Otonomo Technologies by 149.4% in the 2nd quarter. Millennium Management LLC now owns 57,900 shares of the company’s stock valued at $576,000 after acquiring an additional 34,684 shares during the period. Morgan Stanley acquired a new stake in Otonomo Technologies during the 1st quarter worth $289,000. Finally, FNY Investment Advisers LLC purchased a new position in Otonomo Technologies during the 1st quarter worth $47,000. Institutional investors and hedge funds own 51.43% of the company’s stock.

Otonomo Technologies Company Profile (Get Rating)

Otonomo Technologies Ltd. provides an automotive data service platform and marketplace that enables car manufacturers, drivers, and service providers to be part of a connected ecosystem. The company offers cabin data, including the state of doors and windows, ADAS, and infotainment data; engine-related information, such as fuel, oil, error codes or battery voltage, and state of charge; maintenance data comprising time or distance traveled and diagnostic trouble codes; data related to the specific vehicles, which include making, model, year, and fuel type; driving data consisting of location, distance travelled, odometer, and heading and speed; and environmental data that include external weather and temperature, and road hazards and road signs.

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