Q4 2017 EPS Estimates for Vonage Holdings Corp. Increased by Oppenheimer Holdings (VG)

Vonage Holdings Corp. (NYSE:VG) – Investment analysts at Oppenheimer Holdings raised their Q4 2017 earnings estimates for Vonage Holdings Corp. in a note issued to investors on Thursday. Oppenheimer Holdings analyst T. Horan now forecasts that the technology company will post earnings of $0.09 per share for the quarter, up from their prior forecast of $0.08. Oppenheimer Holdings also issued estimates for Vonage Holdings Corp.’s FY2018 earnings at $0.31 EPS.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $252 million for the quarter, compared to analyst estimates of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. Vonage Holdings Corp.’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share.

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VG has been the topic of several other reports. Zacks Investment Research upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, April 19th. William Blair reiterated a “buy” rating on shares of Vonage Holdings Corp. in a research report on Thursday, May 4th. Finally, Dougherty & Co decreased their target price on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $8.31.

Shares of Vonage Holdings Corp. (NYSE:VG) opened at 8.13 on Monday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 133.28 and a beta of -0.01. Vonage Holdings Corp. has a 1-year low of $5.43 and a 1-year high of $8.27. The company’s 50-day moving average is $6.63 and its 200 day moving average is $6.59.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Vonage Holdings Corp. by 9.7% in the first quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock worth $124,757,000 after buying an additional 1,741,500 shares during the period. Wellington Management Group LLP raised its position in Vonage Holdings Corp. by 16.9% in the first quarter. Wellington Management Group LLP now owns 17,507,400 shares of the technology company’s stock worth $110,647,000 after buying an additional 2,533,213 shares during the period. BlackRock Inc. raised its position in Vonage Holdings Corp. by 36,952.8% in the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after buying an additional 15,711,217 shares during the period. Alliancebernstein L.P. raised its position in Vonage Holdings Corp. by 998.4% in the first quarter. Alliancebernstein L.P. now owns 9,866,561 shares of the technology company’s stock worth $62,357,000 after buying an additional 8,968,261 shares during the period. Finally, First Trust Advisors LP raised its position in Vonage Holdings Corp. by 12.2% in the second quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock worth $46,960,000 after buying an additional 780,436 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total value of $2,808,961.01. Following the transaction, the director now directly owns 12,664,157 shares in the company, valued at $85,736,342.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David T. Pearson sold 666,667 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $7.02, for a total transaction of $4,680,002.34. Following the completion of the transaction, the chief financial officer now owns 948,241 shares in the company, valued at $6,656,651.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,024,852 shares of company stock worth $27,972,927. Company insiders own 14.05% of the company’s stock.

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.

Earnings History and Estimates for Vonage Holdings Corp. (NYSE:VG)

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