Ooma (NYSE:OOMA) Issues FY 2023 Earnings Guidance

Ooma (NYSE:OOMAGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.45-$0.49 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of $215.50 million-$218.50 million, compared to the consensus revenue estimate of $212.04 million. Ooma also updated its Q3 2023 guidance to $0.11-$0.13 EPS.

Ooma Stock Performance

Ooma stock opened at $12.40 on Friday. Ooma has a 1-year low of $10.82 and a 1-year high of $24.28. The stock’s fifty day moving average is $12.49 and its two-hundred day moving average is $13.11.

Analyst Ratings Changes

Separately, StockNews.com cut Ooma from a strong-buy rating to a buy rating in a research note on Friday, September 9th.

Hedge Funds Weigh In On Ooma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in shares of Ooma by 22.4% during the first quarter. Wellington Management Group LLP now owns 1,153,787 shares of the technology company’s stock worth $17,296,000 after buying an additional 211,434 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Ooma by 4.9% during the first quarter. Renaissance Technologies LLC now owns 972,303 shares of the technology company’s stock worth $14,575,000 after buying an additional 45,300 shares during the last quarter. State Street Corp boosted its holdings in Ooma by 2.4% in the 1st quarter. State Street Corp now owns 661,399 shares of the technology company’s stock valued at $9,914,000 after purchasing an additional 15,339 shares in the last quarter. Millennium Management LLC boosted its holdings in Ooma by 96.9% in the 2nd quarter. Millennium Management LLC now owns 317,809 shares of the technology company’s stock valued at $3,763,000 after purchasing an additional 156,443 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Ooma by 23.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 202,589 shares of the technology company’s stock valued at $3,037,000 after purchasing an additional 37,969 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.

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Earnings History and Estimates for Ooma (NYSE:OOMA)

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