Equities research analysts expect that Vonage Holdings Corp. (NYSE:VG) will announce $291.01 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Vonage’s earnings, with the highest sales estimate coming in at $293.10 million and the lowest estimate coming in at $289.00 million. Vonage reported sales of $259.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12%. The business is expected to report its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that Vonage will report full year sales of $1.18 billion for the current financial year, with estimates ranging from $1.17 billion to $1.19 billion. For the next financial year, analysts forecast that the company will post sales of $1.31 billion, with estimates ranging from $1.25 billion to $1.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Vonage.
Vonage (NYSE:VG) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $280.00 million for the quarter, compared to analysts’ expectations of $277.82 million. Vonage had a return on equity of 12.11% and a net margin of 0.99%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS.
A number of equities research analysts have commented on the company. Stephens reiterated a “buy” rating on shares of Vonage in a report on Monday, April 29th. Summit Insights reiterated a “hold” rating on shares of Vonage in a report on Thursday, April 4th. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Guggenheim assumed coverage on Vonage in a report on Monday, March 11th. They set a “neutral” rating and a $10.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Vonage presently has an average rating of “Buy” and an average price target of $14.80.
In related news, Director Jeffrey A. Citron sold 400,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $10.09, for a total value of $4,036,000.00. Following the transaction, the director now directly owns 8,558,801 shares of the company’s stock, valued at approximately $86,358,302.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Citron sold 233,334 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.03, for a total value of $2,340,340.02. Following the completion of the transaction, the director now directly owns 8,558,801 shares in the company, valued at $85,844,774.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,364,503 shares of company stock worth $13,962,348. Corporate insiders own 7.41% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new stake in Vonage in the 1st quarter valued at $33,000. Quantamental Technologies LLC acquired a new stake in Vonage in the 1st quarter valued at $52,000. PNC Financial Services Group Inc. increased its holdings in Vonage by 15.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,244 shares of the technology company’s stock valued at $83,000 after purchasing an additional 1,093 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Vonage in the 4th quarter valued at $84,000. Finally, Sciencast Management LP acquired a new stake in Vonage in the 1st quarter valued at $107,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.
NYSE:VG traded up $0.03 during trading hours on Tuesday, reaching $11.58. 1,900,055 shares of the company traded hands, compared to its average volume of 2,915,587. The stock has a market cap of $2.78 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 11.24 and a beta of 0.60. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.66 and a current ratio of 0.66. Vonage has a 1-year low of $7.91 and a 1-year high of $14.73.
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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