Brokerages Anticipate Vonage Holdings Corp. (NASDAQ:VG) Will Post Quarterly Sales of $347.66 Million

Equities research analysts predict that Vonage Holdings Corp. (NASDAQ:VG) will post sales of $347.66 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Vonage’s earnings, with estimates ranging from $346.43 million to $349.67 million. Vonage posted sales of $316.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is expected to issue its next earnings results on Thursday, November 4th.

On average, analysts expect that Vonage will report full year sales of $1.39 billion for the current year, with estimates ranging from $1.38 billion to $1.39 billion. For the next fiscal year, analysts expect that the company will post sales of $1.53 billion, with estimates ranging from $1.50 billion to $1.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Vonage.

Vonage (NASDAQ:VG) last announced its quarterly earnings data on Thursday, August 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Vonage had a negative net margin of 1.84% and a positive return on equity of 7.85%.

A number of equities research analysts have recently weighed in on VG shares. Colliers Securities reissued a “buy” rating and set a $20.00 price objective on shares of Vonage in a report on Thursday, September 2nd. Needham & Company LLC reissued a “hold” rating on shares of Vonage in a report on Tuesday, August 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $19.00 price target on shares of Vonage in a report on Friday, August 6th. KeyCorp upped their price target on shares of Vonage from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, July 22nd. Finally, Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a report on Thursday, August 19th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.57.

(Ad)

Price for this VERY valuable metal is rising to historic levels. Creating a once-in-a-lifetime opportunity for investors.

In other Vonage news, Director Jeffrey A. Citron sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the director now owns 8,441,098 shares in the company, valued at $126,616,470. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey A. Citron sold 200,000 shares of the company’s stock in a transaction dated Tuesday, June 22nd. The stock was sold at an average price of $15.03, for a total transaction of $3,006,000.00. Following the completion of the transaction, the director now owns 8,438,113 shares of the company’s stock, valued at approximately $126,824,838.39. The disclosure for this sale can be found here. Corporate insiders own 4.72% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in VG. Blume Capital Management Inc. acquired a new stake in Vonage in the 2nd quarter valued at about $38,000. Lazard Asset Management LLC acquired a new stake in Vonage in the 2nd quarter valued at about $67,000. Emerald Advisers LLC acquired a new stake in Vonage in the 2nd quarter valued at about $69,000. Dark Forest Capital Management LP acquired a new stake in Vonage in the 2nd quarter valued at about $69,000. Finally, Key Financial Inc purchased a new stake in shares of Vonage in the 2nd quarter valued at approximately $87,000. Institutional investors own 86.90% of the company’s stock.

Shares of VG opened at $14.83 on Wednesday. The firm has a market capitalization of $3.74 billion, a PE ratio of -148.30, a price-to-earnings-growth ratio of 14.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.82 and a quick ratio of 0.82. Vonage has a 1-year low of $9.52 and a 1-year high of $15.72. The company’s fifty day moving average price is $14.07 and its 200-day moving average price is $13.54.

Vonage Company Profile

Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices. It operates through the Business and Consumer segments. The Business segment provides cloud-based Unified Communications as a Service (UCaaS) solutions, which comprises of integrated voice, text, video, data, collaboration, and mobile applications over its scalable Session Initiation Protocol based Voice over Internet Protocol network.

Featured Story: Why Invest in Dividend Kings

Get a free copy of the Zacks research report on Vonage (VG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Vonage (NASDAQ:VG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Vonage right now?

Before you consider Vonage, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Vonage wasn’t on the list.

While Vonage currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here