Ooma (NYSE:OOMA) Issues FY 2023 Earnings Guidance

Ooma (NYSE:OOMAGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided EPS guidance of $0.37-$0.43 for the period, compared to the consensus EPS estimate of $0.36. The company issued revenue guidance of $210.50 million-$213.50 million, compared to the consensus revenue estimate of $210.17 million.Ooma also updated its Q2 2023 guidance to $0.10-$0.11 EPS.

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Ooma from a buy rating to a strong-buy rating in a report on Thursday, May 12th. Zacks Investment Research upgraded shares of Ooma from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Thursday, January 27th. Colliers Securities started coverage on shares of Ooma in a research report on Wednesday, February 2nd. They set a buy rating and a $25.00 price target for the company. Benchmark cut their target price on shares of Ooma to $27.00 in a research report on Friday, May 20th. Finally, Alliance Global Partners cut their target price on shares of Ooma from $25.00 to $21.00 and set a buy rating for the company in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $23.42.

NYSE:OOMA opened at $14.21 on Wednesday. The stock has a market cap of $344.83 million, a P/E ratio of -194.69 and a beta of 0.67. The firm’s fifty day simple moving average is $13.95 and its 200 day simple moving average is $16.99. Ooma has a twelve month low of $12.11 and a twelve month high of $24.89.

Ooma (NYSE:OOMAGet Rating) last announced its earnings results on Thursday, March 3rd. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Ooma had a negative net margin of 0.91% and a negative return on equity of 0.95%. The firm had revenue of $50.49 million for the quarter, compared to analysts’ expectations of $49.97 million. During the same quarter in the previous year, the business posted ($0.02) EPS. Analysts predict that Ooma will post -0.17 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG raised its position in Ooma by 2.1% in the 4th quarter. Deutsche Bank AG now owns 28,676 shares of the technology company’s stock worth $586,000 after buying an additional 597 shares during the last quarter. Royal Bank of Canada raised its position in Ooma by 8.6% in the 2nd quarter. Royal Bank of Canada now owns 9,317 shares of the technology company’s stock worth $176,000 after buying an additional 737 shares during the last quarter. UBS Group AG grew its stake in shares of Ooma by 11.2% during the 3rd quarter. UBS Group AG now owns 9,111 shares of the technology company’s stock valued at $169,000 after purchasing an additional 921 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Ooma by 34.5% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,417 shares of the technology company’s stock valued at $111,000 after purchasing an additional 1,389 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Ooma by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 112,250 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 2,625 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Ooma Company Profile (Get Rating)

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 Office Pro that offers services, including HD video meetings, call recording, enhanced call blocking, and voicemail transcription; Ooma Connect, which delivers fixed wireless internet connectivity; Ooma Managed Wi-Fi, a plug-and-play enterprise-grade Wi-Fi solution; and Ooma Enterprise, a unified-communications-as-a-service solution.

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Earnings History and Estimates for Ooma (NYSE:OOMA)

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