Brokerages expect that Vonage Holdings Corp. (NYSE:VG) will announce sales of $274.41 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Vonage’s earnings. The lowest sales estimate is $273.37 million and the highest is $275.54 million. Vonage reported sales of $254.02 million in the same quarter last year, which indicates a positive year over year growth rate of 8%. The business is expected to announce its next earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that Vonage will report full-year sales of $1.05 billion for the current financial year. For the next financial year, analysts expect that the firm will report sales of $1.16 billion, with estimates ranging from $1.11 billion to $1.21 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Vonage.
Vonage (NYSE:VG) last issued its quarterly earnings data on Friday, November 2nd. The technology company reported $0.09 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The firm had revenue of $261.53 million for the quarter, compared to the consensus estimate of $263.91 million. Vonage had a negative net margin of 1.22% and a positive return on equity of 17.66%. Vonage’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.07 EPS.
VG has been the topic of a number of recent analyst reports. William Blair restated a “buy” rating on shares of Vonage in a research report on Wednesday, August 1st. Needham & Company LLC restated a “buy” rating and set a $15.00 price target (up from $13.00) on shares of Vonage in a research report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Vonage from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Finally, Citigroup boosted their price target on shares of Vonage to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $14.00.
Shares of NYSE:VG opened at $11.22 on Friday. Vonage has a fifty-two week low of $8.65 and a fifty-two week high of $14.73. The stock has a market capitalization of $2.81 billion, a P/E ratio of 40.07, a PEG ratio of 7.14 and a beta of -0.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.73 and a current ratio of 0.75.
In other Vonage news, Director Jeffrey A. Citron sold 500,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $14.33, for a total transaction of $7,165,000.00. Following the sale, the director now directly owns 10,650,784 shares in the company, valued at approximately $152,625,734.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Citron sold 233,332 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $13.67, for a total transaction of $3,189,648.44. Following the sale, the director now owns 9,053,862 shares in the company, valued at $123,766,293.54. The disclosure for this sale can be found here. Insiders have sold a total of 2,345,329 shares of company stock worth $32,961,939 over the last 90 days. 8.70% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in VG. BlackRock Inc. grew its stake in shares of Vonage by 1.8% in the 3rd quarter. BlackRock Inc. now owns 31,519,028 shares of the technology company’s stock worth $446,311,000 after purchasing an additional 548,508 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Vonage by 12.2% in the 2nd quarter. First Trust Advisors LP now owns 8,924,929 shares of the technology company’s stock worth $115,042,000 after purchasing an additional 972,857 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Vonage by 3.2% in the 3rd quarter. Alliancebernstein L.P. now owns 8,753,955 shares of the technology company’s stock worth $123,956,000 after purchasing an additional 271,892 shares during the last quarter. Glenmede Trust Co. NA grew its stake in shares of Vonage by 238.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 3,950,418 shares of the technology company’s stock worth $50,920,000 after purchasing an additional 2,783,664 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of Vonage by 0.3% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 3,690,621 shares of the technology company’s stock worth $52,259,000 after purchasing an additional 9,349 shares during the last quarter. Institutional investors own 85.29% of the company’s stock.
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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