$249.64 Million in Sales Expected for Vonage Holdings Corp. (VG) This Quarter
Equities analysts expect Vonage Holdings Corp. (NYSE:VG) to post $249.64 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Vonage Holdings Corp.’s earnings, with the highest sales estimate coming in at $258.34 million and the lowest estimate coming in at $244.09 million. Vonage Holdings Corp. reported sales of $248.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The firm is scheduled to announce its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Vonage Holdings Corp. will report full year sales of $249.64 million for the current year, with estimates ranging from $977.51 million to $1.01 billion. For the next financial year, analysts expect that the firm will post sales of $1.02 billion per share, with estimates ranging from $979.54 million to $1.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Vonage Holdings Corp..
Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The firm had revenue of $252 million for the quarter, compared to the consensus estimate of $242.05 million. During the same quarter in the previous year, the business earned $0.08 EPS. The company’s revenue was up 7.8% compared to the same quarter last year.
VG has been the subject of several analyst reports. William Blair reissued a “buy” rating on shares of Vonage Holdings Corp. in a research report on Thursday, May 4th. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research report on Thursday, May 11th. FBN Securities downgraded shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price target for the company. in a research report on Thursday, August 10th. BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Dougherty & Co reduced their price target on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.39.
Vonage Holdings Corp. (NYSE VG) opened at 8.06 on Tuesday. The stock has a market cap of $1.83 billion, a P/E ratio of 100.75 and a beta of -0.01. Vonage Holdings Corp. has a 52 week low of $5.65 and a 52 week high of $8.50. The stock has a 50 day moving average price of $7.10 and a 200-day moving average price of $6.68.
In related news, CFO David T. Pearson sold 666,666 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $7.00, for a total value of $4,666,662.00. Following the sale, the chief financial officer now owns 948,241 shares in the company, valued at $6,637,687. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David T. Pearson sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $7.00, for a total transaction of $14,000,000.00. Following the completion of the sale, the chief financial officer now owns 948,241 shares in the company, valued at approximately $6,637,687. The disclosure for this sale can be found here. Insiders sold 4,163,159 shares of company stock worth $29,520,570 in the last 90 days. 14.05% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Vonage Holdings Corp. by 1.3% in the first quarter. Sei Investments Co. now owns 109,026 shares of the technology company’s stock valued at $689,000 after buying an additional 1,409 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Vonage Holdings Corp. during the first quarter valued at about $126,000. UBS Asset Management Americas Inc. boosted its stake in shares of Vonage Holdings Corp. by 33.9% in the first quarter. UBS Asset Management Americas Inc. now owns 109,911 shares of the technology company’s stock valued at $695,000 after buying an additional 27,825 shares in the last quarter. Swiss National Bank boosted its stake in shares of Vonage Holdings Corp. by 2.7% in the first quarter. Swiss National Bank now owns 320,500 shares of the technology company’s stock valued at $2,026,000 after buying an additional 8,500 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Vonage Holdings Corp. by 65.3% in the first quarter. BNP Paribas Arbitrage SA now owns 53,153 shares of the technology company’s stock valued at $336,000 after buying an additional 21,001 shares in the last quarter. Institutional investors own 76.17% of the company’s stock.
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Vonage Holdings Corp. Company Profile
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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