Vonage (VG) Releases Earnings Results, Misses Estimates By $0.01 EPS

Vonage (NYSE:VG) issued its earnings results on Wednesday. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01), Bloomberg Earnings reports. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company had revenue of $254.00 million during the quarter, compared to analyst estimates of $254.19 million. During the same period in the previous year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis.

Vonage (VG) traded down $1.71 during midday trading on Wednesday, hitting $9.76. The stock had a trading volume of 4,420,647 shares, compared to its average volume of 1,693,537. The firm has a market cap of $2,558.83, a PE ratio of 122.27, a P/E/G ratio of 6.52 and a beta of -0.04. Vonage has a one year low of $5.74 and a one year high of $11.65. 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 other news, Director Jeffrey A. Citron sold 414,916 shares of Vonage stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $10.18, for a total value of $4,223,844.88. Following the completion of the sale, the director now directly owns 10,676,047 shares of the company’s stock, valued at approximately $108,682,158.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Citron sold 238,303 shares of Vonage stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total value of $2,399,711.21. Following the completion of the sale, the director now directly owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The disclosure for this sale can be found here. Insiders sold a total of 1,306,435 shares of company stock valued at $13,365,596 over the last three months. Insiders own 14.05% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after purchasing an additional 4,569 shares during the period. World Asset Management Inc acquired a new stake in shares of Vonage in the third quarter valued at about $112,000. LS Investment Advisors LLC increased its position in shares of Vonage by 83.5% in the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after acquiring an additional 5,683 shares during the last quarter. Bank of Montreal Can increased its position in shares of Vonage by 103.4% in the fourth quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after acquiring an additional 6,581 shares during the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new stake in shares of Vonage in the fourth quarter valued at about $142,000. 84.88% of the stock is owned by institutional investors.

VG has been the subject of a number of recent research reports. Zacks Investment Research reissued a “hold” rating and issued a $11.00 target price on shares of Vonage in a report on Saturday, January 13th. Citigroup reaffirmed a “buy” rating and set a $11.00 price target on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Craig Hallum reaffirmed a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Needham & Company LLC raised their price target on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Vonage in a report on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $10.30.

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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.

Earnings History for Vonage (NYSE:VG)

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