Ooma (NYSE:OOMA – Get Rating) updated its fourth quarter 2023 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.14-$0.15 for the period, compared to the consensus earnings per share estimate of $0.11. The company issued revenue guidance of $56.30 million-$56.60 million, compared to the consensus revenue estimate of $57.53 million. Ooma also updated its FY 2023 guidance to $0.51-$0.53 EPS.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of Ooma in a report on Wednesday, October 12th. They set a buy rating on the stock.
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Ooma Price Performance
Shares of NYSE OOMA traded up $0.40 on Wednesday, hitting $15.75. The company's stock had a trading volume of 54,682 shares, compared to its average volume of 90,859. Ooma has a 12-month low of $10.82 and a 12-month high of $21.89. The company has a market capitalization of $382.73 million, a price-to-earnings ratio of -525.00 and a beta of 0.76. The stock has a 50 day moving average of $14.73 and a 200-day moving average of $13.32.
Ooma (NYSE:OOMA – Get Rating) last announced its quarterly earnings results on Thursday, September 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $52.65 million for the quarter, compared to the consensus estimate of $51.67 million. Ooma had a negative net
margin of 0.42% and a negative return on equity of 1.40%. Sell-side analysts expect that Ooma will post -0.09 EPS for the current fiscal year.
Hedge Funds Weigh In On Ooma
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in Ooma by 32.8% during the third quarter. BlackRock Inc. now owns 2,701,018 shares of the technology company's stock worth $33,223,000 after purchasing an additional 667,631 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Ooma by 22.4% in the first quarter. Wellington Management Group LLP now owns 1,153,787 shares of the technology company's stock worth $17,296,000 after acquiring an additional 211,434 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ooma by 0.9% in the third quarter. Vanguard Group Inc. now owns 1,122,495 shares of the technology company's stock worth $13,807,000 after acquiring an additional 10,553 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ooma by 4.9% in the first quarter. Renaissance Technologies LLC now owns 972,303 shares of the technology company's stock worth $14,575,000 after acquiring an additional 45,300 shares in the last quarter. Finally, State Street Corp increased its position in shares of Ooma by 2.4% in the first quarter. State Street Corp now owns 661,399 shares of the technology company's stock worth $9,914,000 after acquiring an additional 15,339 shares in the last quarter. Hedge funds and other institutional investors own 80.68% of the company's stock.
About Ooma
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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, which offers various 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.
Further Reading
- Get a free copy of the StockNews.com research report on Ooma (OOMA)
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