Ooma (NYSE:OOMA) Issues Q2 2023 Earnings Guidance

Ooma (NYSE:OOMAGet Rating) issued an update on its second quarter 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.10-$0.11 for the period, compared to the consensus EPS estimate of $0.09. The company issued revenue guidance of $51.40 million-$51.90 million, compared to the consensus revenue estimate of $51.17 million.Ooma also updated its FY 2023 guidance to $0.37-$0.43 EPS.

Shares of Ooma stock opened at $13.64 on Tuesday. The firm has a fifty day moving average of $13.81 and a two-hundred day moving average of $16.49. The company has a market cap of $331.04 million, a P/E ratio of -227.33 and a beta of 0.67. Ooma has a one year low of $12.11 and a one year high of $24.89.

Ooma (NYSE:OOMAGet Rating) last announced its quarterly earnings results on Tuesday, May 24th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Ooma had a negative net margin of 0.83% and a negative return on equity of 0.68%. During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, equities analysts anticipate that Ooma will post -0.17 EPS for the current year.

OOMA has been the subject of a number of research analyst reports. Alliance Global Partners cut their price target on shares of Ooma from $25.00 to $21.00 and set a buy rating for the company in a report on Wednesday, May 25th. Northland Securities lowered their price objective on shares of Ooma to $19.00 in a research note on Wednesday, May 25th. StockNews.com raised shares of Ooma from a buy rating to a strong-buy rating in a research note on Thursday, May 12th. Benchmark lowered their price objective on shares of Ooma to $27.00 in a research note on Friday, May 20th. Finally, JMP Securities cut shares of Ooma from a market outperform rating to a market perform rating and lowered their price objective for the company from $24.00 to $20.00 in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $22.79.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its position in shares of Ooma by 390.8% in the third quarter. BNP Paribas Arbitrage SA now owns 3,951 shares of the technology company’s stock worth $74,000 after acquiring an additional 3,146 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of Ooma by 34.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,417 shares of the technology company’s stock worth $111,000 after acquiring an additional 1,389 shares during the last quarter. Citigroup Inc. boosted its position in shares of Ooma by 132.4% in the fourth quarter. Citigroup Inc. now owns 5,646 shares of the technology company’s stock worth $115,000 after acquiring an additional 3,217 shares during the last quarter. UBS Group AG boosted its position in shares of Ooma by 11.2% in the third quarter. UBS Group AG now owns 9,111 shares of the technology company’s stock worth $169,000 after acquiring an additional 921 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Ooma by 8.6% in the second quarter. Royal Bank of Canada now owns 9,317 shares of the technology company’s stock worth $176,000 after acquiring an additional 737 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

About Ooma (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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