According to Zacks, “Vonage is redefining communications by offering consumers and small businesses an affordable alternative to traditional telephone service. The fastest growing telephony company in North America, Vonage’s service area encompasses more than 2000 active rate centers in over 130 global markets. Vonage is sold directly through their website and retail partners such as SAM’s Club, Amazon.com, RadioShack, Best Buy, Circuit City, Staples, Fry’s Electronics and Office Depot. Wholesale partners such as EarthLink, ARMSTRONG(R), Advanced Cable Communications and the Coldwater Board of Public Utilities resell the Vonage broadband phone service under their own unique brands. With more than 300,000 lines in service, Vonage continues to add more than 30,000 lines per month to its network. Over 10 million calls per week are made using Vonage, the easy-to-use, feature-rich, flat rate phone service. “
Separately, Needham & Company LLC started coverage on Vonage in a report on Monday, June 21st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.25.
Shares of VG stock opened at $14.19 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.84. Vonage has a fifty-two week low of $9.52 and a fifty-two week high of $15.72. The company has a 50 day moving average of $13.96. The company has a market capitalization of $3.57 billion, a P/E ratio of -109.15, a P/E/G ratio of 14.16 and a beta of 0.72.
Vonage (NASDAQ:VG) last announced its quarterly earnings data on Thursday, May 6th. The company reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Vonage had a positive return on equity of 7.73% and a negative net margin of 2.56%. The firm had revenue of $332.90 million during the quarter, compared to the consensus estimate of $317.14 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Vonage will post 0.2 EPS for the current year.
In other news, Director Jeffrey A. Citron sold 200,000 shares of the stock in a transaction on Tuesday, June 22nd. The stock was sold at an average price of $15.03, for a total value of $3,006,000.00. Following the sale, the director now directly owns 8,438,113 shares of the company’s stock, valued at $126,824,838.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VG. Amundi Pioneer Asset Management Inc. boosted its position in shares of Vonage by 19.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 94,576 shares of the company’s stock valued at $950,000 after buying an additional 15,500 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Vonage by 17.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 39,700 shares of the company’s stock valued at $511,000 after acquiring an additional 5,790 shares during the period. Rhumbline Advisers lifted its holdings in Vonage by 3.5% in the fourth quarter. Rhumbline Advisers now owns 708,986 shares of the company’s stock valued at $9,128,000 after acquiring an additional 24,062 shares during the period. Veriti Management LLC bought a new position in Vonage in the fourth quarter valued at about $99,000. Finally, Teacher Retirement System of Texas lifted its holdings in Vonage by 60.4% in the fourth quarter. Teacher Retirement System of Texas now owns 21,206 shares of the company’s stock valued at $273,000 after acquiring an additional 7,985 shares during the period. 91.34% of the stock is currently owned by institutional investors.
Vonage Company Profile
Vonage Holdings Corp. primarily operates as a business-to-business cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.
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