Vonage Holdings (NYSE:VG) – Equities research analysts at Oppenheimer upped their Q4 2018 earnings per share (EPS) estimates for Vonage in a report released on Wednesday, May 9th. Oppenheimer analyst T. Horan now forecasts that the technology company will post earnings of $0.13 per share for the quarter, up from their prior forecast of $0.12. Oppenheimer also issued estimates for Vonage’s FY2019 earnings at $0.48 EPS and FY2020 earnings at $0.56 EPS.
Vonage (NYSE:VG) last announced its earnings results on Tuesday, May 8th. The technology company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.05. Vonage had a positive return on equity of 16.84% and a negative net margin of 1.51%. The business had revenue of $253.60 million during the quarter, compared to analysts’ expectations of $251.76 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Vonage from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, April 20th. ValuEngine raised Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Summit Redstone reaffirmed a “hold” rating on shares of Vonage in a research note on Friday, February 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $12.00 target price (up previously from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.63.
Shares of Vonage opened at $11.45 on Friday, Marketbeat.com reports. Vonage has a fifty-two week low of $6.28 and a fifty-two week high of $11.94. The stock has a market cap of $2.71 billion, a P/E ratio of 40.89, a PEG ratio of 5.77 and a beta of 0.03. The company has a quick ratio of 0.65, a current ratio of 0.74 and a debt-to-equity ratio of 0.42.
In other news, CRO Kenneth Wyatt sold 38,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $10.84, for a total transaction of $411,920.00. Following the completion of the sale, the executive now directly owns 39,716 shares of the company’s stock, valued at $430,521.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Alan Masarek sold 487,703 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $10.34, for a total value of $5,042,849.02. Following the sale, the chief executive officer now directly owns 983,423 shares of the company’s stock, valued at $10,168,593.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 88,000 shares of company stock valued at $18,690 and have sold 2,208,707 shares valued at $23,917,633. Corporate insiders own 8.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vonage by 87.5% during the fourth 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 last quarter. Pitcairn Co. purchased a new stake in shares of Vonage during the first quarter valued at $108,000. Zeke Capital Advisors LLC purchased a new stake in shares of Vonage during the first quarter valued at $120,000. LS Investment Advisors LLC lifted its holdings in shares of Vonage by 83.5% during the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after purchasing an additional 5,683 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Vonage by 103.4% during the fourth quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after purchasing an additional 6,581 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.
Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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