Vonage (VG) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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Vonage (NYSE:VG) issued its earnings results on Wednesday. The technology company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04, MarketWatch Earnings reports. The business had revenue of $280.00 million during the quarter, compared to analysts’ expectations of $277.82 million. Vonage had a return on equity of 15.33% and a net margin of 3.41%. Vonage’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share.

Shares of NYSE:VG traded up $1.22 during midday trading on Wednesday, hitting $11.67. 510,009 shares of the stock were exchanged, compared to its average volume of 2,920,214. The company has a current ratio of 0.63, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Vonage has a 52-week low of $7.91 and a 52-week high of $14.73. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 36.50, a P/E/G ratio of 11.47 and a beta of 0.60.

Several brokerages have recently commented on VG. Zacks Investment Research cut Vonage from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Guggenheim began coverage on Vonage in a research report on Monday, March 11th. They issued a “neutral” rating and a $10.00 target price for the company. Stephens reaffirmed a “buy” rating on shares of Vonage in a research report on Monday, April 29th. Finally, Summit Insights reaffirmed a “hold” rating on shares of Vonage in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $14.50.

In other Vonage news, CFO David T. Pearson sold 74,633 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.93, for a total transaction of $741,105.69. Following the transaction, the chief financial officer now directly owns 427,775 shares in the company, valued at $4,247,805.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Vinod Lala sold 2,867 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.29, for a total value of $29,501.43. Following the transaction, the insider now owns 93,993 shares in the company, valued at $967,187.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,098,045 shares of company stock valued at $10,923,810. 7.41% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC bought a new position in Vonage during the first quarter valued at about $52,000. Oregon Public Employees Retirement Fund bought a new position in Vonage during the fourth quarter valued at about $84,000. Sciencast Management LP bought a new position in Vonage during the first quarter valued at about $107,000. Eqis Capital Management Inc. raised its holdings in Vonage by 15.9% during the fourth quarter. Eqis Capital Management Inc. now owns 13,809 shares of the technology company’s stock valued at $121,000 after buying an additional 1,897 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Vonage by 94.6% during the first quarter. Victory Capital Management Inc. now owns 12,998 shares of the technology company’s stock valued at $130,000 after buying an additional 6,319 shares in the last quarter. Institutional investors own 84.36% of the company’s stock.

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Vonage Company Profile

Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.

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Earnings History for Vonage (NYSE:VG)

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