Brokerages forecast that Vonage Holdings Corp. (NYSE:VG) will post sales of $249.30 million for the current quarter, Zacks reports. Five analysts have provided estimates for Vonage Holdings Corp.’s earnings, with the highest sales estimate coming in at $251.12 million and the lowest estimate coming in at $248.06 million. Vonage Holdings Corp. reported sales of $248.36 million in the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The business is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, November 7th.
On average, analysts expect that Vonage Holdings Corp. will report full year sales of $249.30 million for the current year, with estimates ranging from $991.46 million to $998.20 million. For the next financial year, analysts expect that the company will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Vonage Holdings Corp..
A number of equities research analysts recently weighed in on VG shares. Northland Securities reaffirmed a “buy” rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Robert W. Baird reiterated a “buy” rating and issued a $9.00 price target on shares of Vonage Holdings Corp. in a research note on Friday, October 20th. Citigroup Inc. reiterated a “buy” rating and issued a $9.75 price target on shares of Vonage Holdings Corp. in a research note on Wednesday, September 13th. Finally, FBN Securities cut 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 note on Thursday, August 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Vonage Holdings Corp. presently has an average rating of “Buy” and a consensus target price of $9.16.
In related news, CFO David T. Pearson sold 198,350 shares of Vonage Holdings Corp. stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the completion of the transaction, the chief financial officer now directly owns 216,119 shares in the company, valued at $1,744,080.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $8.11, for a total value of $3,364,944.43. Following the transaction, the director now owns 12,670,751 shares of the company’s stock, valued at $102,759,790.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,581,392 shares of company stock valued at $12,777,047. 14.05% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in VG. UBS Asset Management Americas Inc. raised its position in Vonage Holdings Corp. by 33.9% during the first quarter. UBS Asset Management Americas Inc. now owns 109,911 shares of the technology company’s stock valued at $695,000 after acquiring an additional 27,825 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Vonage Holdings Corp. in the first quarter valued at approximately $126,000. JPMorgan Chase & Co. grew its holdings in Vonage Holdings Corp. by 2,499.3% in the first quarter. JPMorgan Chase & Co. now owns 644,684 shares of the technology company’s stock valued at $4,075,000 after purchasing an additional 619,882 shares during the period. FMR LLC grew its holdings in Vonage Holdings Corp. by 22.3% in the first quarter. FMR LLC now owns 3,729,255 shares of the technology company’s stock valued at $23,569,000 after purchasing an additional 678,943 shares during the period. Finally, Legal & General Group Plc grew its holdings in Vonage Holdings Corp. by 30.7% in the first quarter. Legal & General Group Plc now owns 60,026 shares of the technology company’s stock valued at $378,000 after purchasing an additional 14,089 shares during the period. Institutional investors own 79.06% of the company’s stock.
Shares of Vonage Holdings Corp. (VG) opened at $8.03 on Monday. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $8.69. The firm has a market capitalization of $1,825.58, a PE ratio of 34.91, a P/E/G ratio of 5.79 and a beta of -0.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.59 and a current ratio of 0.61.
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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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