Ooma (NYSE:OOMA) Releases Q3 2023 Earnings Guidance

Ooma (NYSE:OOMAGet Rating) issued an update on its third quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.11-$0.13 for the period, compared to the consensus estimate of $0.09. The company issued revenue guidance of $56.00 million-$56.50 million, compared to the consensus revenue estimate of $53.78 million. Ooma also updated its FY 2023 guidance to $0.45-$0.49 EPS.

Ooma Price Performance

Shares of OOMA opened at $12.40 on Friday. The stock’s 50-day simple moving average is $12.49 and its 200 day simple moving average is $13.11. Ooma has a 52-week low of $10.82 and a 52-week high of $24.28.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ooma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Occudo Quantitative Strategies LP bought a new position in Ooma during the 2nd quarter worth approximately $120,000. Dynamic Technology Lab Private Ltd purchased a new stake in Ooma in the 1st quarter worth approximately $161,000. MetLife Investment Management LLC lifted its holdings in Ooma by 49.6% in the 1st quarter. MetLife Investment Management LLC now owns 12,883 shares of the technology company’s stock worth $193,000 after buying an additional 4,274 shares during the period. Jane Street Group LLC purchased a new stake in Ooma in the 2nd quarter worth approximately $198,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Ooma by 50.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 23,166 shares of the technology company’s stock worth $274,000 after buying an additional 7,757 shares during the period. 80.68% of the stock is currently owned by institutional investors.

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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