Brokerages predict that Vonage Holdings Corp. (NYSE:VG) will post $253.66 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Vonage’s earnings. The lowest sales estimate is $252.76 million and the highest is $254.21 million. Vonage posted sales of $243.35 million in the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Vonage will report full-year sales of $253.66 million for the current year. For the next year, analysts anticipate that the company will report sales of $1.11 billion per share, with estimates ranging from $1.06 billion to $1.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Vonage.
Vonage (NYSE:VG) last issued its earnings results on Wednesday, February 21st. The technology company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business had revenue of $254.00 million for the quarter, compared to the consensus estimate of $254.19 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year.
Several research analysts have recently commented on VG shares. Zacks Investment Research reiterated a “hold” rating and set a $11.00 target price on shares of Vonage in a research note on Saturday, January 13th. Citigroup reiterated a “buy” rating and set a $11.00 target price on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Craig Hallum restated a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Needham & Company LLC boosted their price target on Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Robert W. Baird restated a “buy” rating on shares of Vonage in a research note on Friday, November 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Vonage currently has an average rating of “Buy” and a consensus target price of $10.41.
In other news, Director Jeffrey A. Citron sold 514,913 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the completion of the transaction, the director now owns 10,680,286 shares of the company’s stock, valued at approximately $110,754,565.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey A. Citron sold 138,303 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $10.14, for a total value of $1,402,392.42. Following the transaction, the director now directly owns 10,676,047 shares of the company’s stock, valued at approximately $108,255,116.58. 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 ninety days. Insiders own 14.05% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its holdings in shares of Vonage by 54.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock worth $4,871,000 after buying an additional 261,918 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Vonage by 20.8% in the 3rd quarter. Wells Fargo & Company MN now owns 474,112 shares of the technology company’s stock worth $3,859,000 after purchasing an additional 81,710 shares in the last quarter. Vanguard Group Inc. increased its holdings in Vonage by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock worth $131,960,000 after purchasing an additional 437,370 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Vonage by 320.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock worth $2,571,000 after purchasing an additional 297,302 shares in the last quarter. Finally, ING Groep NV acquired a new position in Vonage in the 3rd quarter worth about $324,000. 84.88% of the stock is owned by institutional investors.
Shares of Vonage (NYSE:VG) traded down $0.04 during midday trading on Monday, hitting $9.99. The stock had a trading volume of 3,658,178 shares, compared to its average volume of 1,933,691. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. Vonage has a one year low of $5.74 and a one year high of $11.65. The company has a market cap of $2,622.86, a P/E ratio of 127.39, a P/E/G ratio of 6.68 and a beta of -0.04.
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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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