Wall Street analysts expect Vonage Holdings Corp. (NYSE:VG) to post $254.42 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Vonage’s earnings, with the highest sales estimate coming in at $257.70 million and the lowest estimate coming in at $253.04 million. Vonage reported sales of $246.76 million in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The firm is scheduled to announce its next earnings report on Tuesday, February 13th.
On average, analysts expect that Vonage will report full year sales of $254.42 million for the current year, with estimates ranging from $1.00 billion to $1.01 billion. For the next year, analysts expect that the business will report sales of $1.03 billion per share, with estimates ranging from $1.02 billion to $1.05 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Vonage.
Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $253.10 million for the quarter, compared to the consensus estimate of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS.
Several analysts have weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and set a $11.00 target price on shares of Vonage in a research note on Wednesday, January 3rd. Oppenheimer lifted their target price on Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Northland Securities reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage in a research note on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage in a research note on Wednesday, September 27th. Finally, Craig Hallum reissued a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Vonage currently has a consensus rating of “Buy” and an average target price of $10.30.
In related news, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the completion of the transaction, the director now owns 12,676,047 shares of the company’s stock, valued at approximately $102,929,501.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 514,913 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $10.37, for a total value of $5,339,647.81. Following the transaction, the director now directly owns 10,680,286 shares of the company’s stock, valued at approximately $110,754,565.82. The disclosure for this sale can be found here. Insiders sold 2,292,342 shares of company stock worth $21,885,764 in the last 90 days. Corporate insiders own 14.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its holdings in Vonage by 54.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock valued at $4,871,000 after acquiring an additional 261,918 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Vonage by 15.3% in the 2nd quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock valued at $42,902,000 after purchasing an additional 872,527 shares during the period. Vanguard Group Inc. grew its stake in shares of Vonage by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock valued at $131,960,000 after purchasing an additional 437,370 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Vonage by 320.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock valued at $2,571,000 after purchasing an additional 297,302 shares during the period. Finally, ING Groep NV bought a new stake in shares of Vonage in the 3rd quarter valued at approximately $324,000. 83.99% of the stock is owned by institutional investors and hedge funds.
Shares of Vonage (VG) traded up $0.35 during trading on Tuesday, reaching $10.96. The company’s stock had a trading volume of 2,540,700 shares, compared to its average volume of 1,783,533. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51. The company has a market cap of $2,506.24, a P/E ratio of 137.02, a P/E/G ratio of 6.45 and a beta of -0.05. Vonage has a 52-week low of $5.74 and a 52-week high of $11.00.
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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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