Vonage Holdings Corp. (VG) to Release Earnings on Tuesday
Vonage Holdings Corp. (NYSE:VG) is scheduled to be releasing its earnings data before the market opens on Tuesday, November 7th. Analysts expect Vonage Holdings Corp. to post earnings of $0.07 per share for the quarter.
Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate 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 $252.00 million during the quarter, compared to analysts’ expectations of $242.05 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, analysts expect Vonage Holdings Corp. to post $0.28 EPS for the current fiscal year and $0.27 EPS for the next fiscal year.
Vonage Holdings Corp. (NYSE VG) traded up 0.62% on Tuesday, hitting $8.10. The stock had a trading volume of 178,622 shares. The firm has a market cap of $1.84 billion, a PE ratio of 101.25 and a beta of -0.11. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $8.69. The company has a 50-day moving average price of $8.13 and a 200 day moving average price of $7.33.
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In related news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $8.11, for a total value of $3,364,944.43. Following the completion of the transaction, the director now owns 12,670,751 shares in the company, valued at approximately $102,759,790.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David T. Pearson sold 198,350 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total value of $1,600,684.50. Following the completion of the transaction, the chief financial officer now owns 216,119 shares of the company’s stock, valued at approximately $1,744,080.33. The disclosure for this sale can be found here. Insiders sold a total of 1,581,392 shares of company stock valued at $12,777,047 in the last three months. Insiders own 14.05% of the company’s stock.
Several analysts have issued reports on VG shares. Robert W. Baird reaffirmed a “buy” rating and set a $9.00 target price on shares of Vonage Holdings Corp. in a research report on Friday, October 20th. Northland Securities reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 27th. Citigroup Inc. reissued a “buy” rating and issued a $9.75 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. Finally, BidaskClub raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.16.
About Vonage Holdings Corp.
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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