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.
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.
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