Zacks: Analysts Anticipate Vonage Holdings Corp. (VG) Will Post Quarterly Sales of $254.42 Million

Wall Street brokerages expect Vonage Holdings Corp. (NYSE:VG) to announce sales of $254.42 million for the current quarter, Zacks reports. Five analysts have provided estimates for Vonage’s earnings, with the lowest sales estimate coming in at $253.04 million and the highest estimate coming in at $257.70 million. Vonage reported sales of $246.76 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is scheduled to issue its next earnings results on Tuesday, February 13th.

On average, analysts expect that Vonage will report full-year sales of $254.42 million for the current financial year, with estimates ranging from $1.00 billion to $1.01 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.03 billion per share, with estimates ranging from $1.02 billion to $1.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Vonage.

Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share.

A number of equities analysts have weighed in on VG shares. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research report on Saturday, November 11th. Robert W. Baird reiterated a “buy” rating on shares of Vonage in a research report on Friday, November 17th. Northland Securities reiterated a “buy” rating and issued a $9.50 price target on shares of Vonage in a research report on Tuesday, September 5th. Citigroup reiterated a “buy” rating and issued a $9.75 price target on shares of Vonage in a research report on Wednesday, September 13th. Finally, Needham & Company LLC upped their price target on shares of Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $9.94.

Vonage (NYSE VG) opened at $10.17 on Friday. The firm has a market cap of $2,357.60, a P/E ratio of 127.14, a price-to-earnings-growth ratio of 7.30 and a beta of -0.04. Vonage has a 12-month low of $5.74 and a 12-month high of $10.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63.

In related news, Director Jeffrey A. Citron sold 414,916 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $10.18, for a total transaction of $4,223,844.88. Following the sale, the director now owns 10,676,047 shares of the company’s stock, valued at $108,682,158.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the sale, the director now directly owns 12,676,047 shares in the company, valued at approximately $102,929,501.64. The disclosure for this sale can be found here. Insiders sold 1,677,429 shares of company stock worth $15,273,575 in the last three months. Insiders own 14.05% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VG. Aperio Group LLC grew its holdings in shares of Vonage by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after purchasing an additional 433 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Vonage by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,228,753 shares of the technology company’s stock worth $8,037,000 after purchasing an additional 52,183 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Vonage by 108.4% in the second quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock worth $160,000 after purchasing an additional 12,701 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Vonage by 21.6% in the second quarter. Legal & General Group Plc now owns 72,964 shares of the technology company’s stock worth $478,000 after purchasing an additional 12,938 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Vonage by 11.9% in the second quarter. Blair William & Co. IL now owns 95,308 shares of the technology company’s stock worth $623,000 after purchasing an additional 10,157 shares during the last quarter. Hedge funds and other institutional investors own 83.99% of the company’s stock.

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About Vonage

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.

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Earnings History and Estimates for Vonage (NYSE:VG)

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