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.
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.
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