Ooma (NYSE:OOMA) Updates FY 2022 Earnings Guidance

Ooma (NYSE:OOMA) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.400-$0.460 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.350. The company issued revenue guidance of $188.50 million-$190 million, compared to the consensus revenue estimate of $186.47 million.Ooma also updated its Q3 2022 guidance to $0.080-$0.110 EPS.

NYSE OOMA traded down $0.06 during trading hours on Thursday, reaching $19.93. 63,414 shares of the company’s stock traded hands, compared to its average volume of 136,601. Ooma has a 52-week low of $12.66 and a 52-week high of $24.89. The firm has a market cap of $468.36 million, a PE ratio of -181.18 and a beta of 0.41. The firm has a 50-day simple moving average of $18.83 and a 200 day simple moving average of $18.25.

Ooma (NYSE:OOMA) last issued its earnings results on Thursday, September 2nd. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $47.06 million during the quarter, compared to analysts’ expectations of $46.36 million. Ooma had a negative net margin of 1.30% and a negative return on equity of 2.50%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, research analysts expect that Ooma will post -0.11 earnings per share for the current fiscal year.

Several research analysts have issued reports on OOMA shares. JMP Securities lifted their target price on shares of Ooma from $22.00 to $27.00 and gave the stock an outperform rating in a report on Friday, September 3rd. William Blair reaffirmed a buy rating on shares of Ooma in a report on Friday, July 2nd. Zacks Investment Research raised shares of Ooma from a hold rating to a buy rating and set a $23.00 target price for the company in a report on Saturday, September 11th. B. Riley boosted their price objective on shares of Ooma from $24.00 to $27.50 and gave the company a buy rating in a report on Friday, September 3rd. Finally, Benchmark boosted their price objective on shares of Ooma from $27.00 to $30.00 and gave the company a buy rating in a report on Friday, September 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $26.30.

An institutional investor recently raised its position in Ooma stock. Royal Bank of Canada boosted its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,317 shares of the technology company’s stock after buying an additional 737 shares during the quarter. Royal Bank of Canada’s holdings in Ooma were worth $176,000 at the end of the most recent quarter. Institutional investors and hedge funds own 83.09% of the company’s stock.

Ooma Company Profile

Ooma, Inc engages in the provision of platform for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications. Its products and services include Ooma business and Ooma residential.

Read More: Commodities

Earnings History and Estimates for Ooma (NYSE:OOMA)

Receive News & Ratings for Ooma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ooma and related companies with MarketBeat.com's FREE daily email newsletter.