FY2019 Earnings Estimate for Vonage Holdings Corp. Issued By Oppenheimer (VG)

Vonage Holdings Corp. (NYSE:VG) – Analysts at Oppenheimer lowered their FY2019 earnings estimates for Vonage in a research report issued to clients and investors on Friday. Oppenheimer analyst T. Horan now expects that the technology company will earn $0.43 per share for the year, down from their previous forecast of $0.44. Oppenheimer has a “Outperform” rating and a $10.00 price objective on the stock.

Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. Vonage had a net margin of 2.14% and a return on equity of 11.47%. Vonage’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share.

Other equities research analysts have also issued reports about the stock. Robert W. Baird restated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a report on Wednesday, January 3rd. Northland Securities restated a “buy” rating and issued a $9.50 price objective on shares of Vonage in a report on Thursday, October 12th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective (up from $9.50) on shares of Vonage in a report on Wednesday, November 8th. Craig Hallum restated a “buy” rating and issued a $11.00 price objective (up from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of Vonage from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.30.

Shares of Vonage (NYSE:VG) opened at $10.80 on Monday. The firm has a market cap of $2,469.65, a P/E ratio of 49.09, a PEG ratio of 6.35 and a beta of -0.04. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51. Vonage has a 1-year low of $5.74 and a 1-year high of $11.32.

A number of institutional investors have recently modified their holdings of VG. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Vonage by 87.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after purchasing an additional 4,569 shares during the period. World Asset Management Inc purchased a new position in Vonage during the 3rd quarter valued at $112,000. Bank of Montreal Can grew its position in shares of Vonage by 103.4% in the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after buying an additional 6,581 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in shares of Vonage in the 4th quarter worth about $142,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Vonage in the 4th quarter worth about $146,000. 83.85% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Jeffrey A. Citron sold 514,913 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the completion of the sale, the director now directly owns 10,680,286 shares in the company, valued at approximately $110,754,565.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Citron sold 138,303 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $8.90, for a total transaction of $1,230,896.70. Following the sale, the director now owns 11,676,047 shares of the company’s stock, valued at $103,916,818.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,877,429 shares of company stock valued at $18,516,671 over the last quarter. 14.05% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY NOTICE: “FY2019 Earnings Estimate for Vonage Holdings Corp. Issued By Oppenheimer (VG)” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/05/fy2019-earnings-estimate-for-vonage-holdings-corp-issued-by-oppenheimer-vg.html.

About Vonage

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.

Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply