Equities research analysts forecast that Vonage Holdings Corp. (NYSE:VG) will announce $254.42 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Vonage’s earnings, with the lowest sales estimate coming in at $253.04 million and the highest estimate coming in at $257.70 million. Vonage posted sales of $246.76 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The firm is expected to report its next earnings results before the market opens on Wednesday, February 21st.
On average, analysts expect that Vonage will report full year sales of $254.42 million for the current fiscal year, with estimates ranging from $1.00 billion to $1.01 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.03 billion per share, with estimates ranging from $1.02 billion to $1.06 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Vonage.
A number of research analysts have recently weighed in on the company. Summit Redstone reissued a “hold” rating on shares of Vonage in a report on Friday, February 9th. Robert W. Baird reaffirmed a “buy” rating and set a $11.00 target price on shares of Vonage in a report on Wednesday, January 3rd. Oppenheimer raised their target price on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price (up from $9.50) on shares of Vonage in a report on Wednesday, November 8th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Vonage has a consensus rating of “Buy” and a consensus price target of $10.30.
Vonage (VG) opened at $11.19 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2,558.83, a PE ratio of 50.86, a PEG ratio of 6.52 and a beta of -0.04. Vonage has a 1-year low of $5.74 and a 1-year high of $11.32.
In other Vonage news, insider Edward M. Gilvar sold 17,778 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total value of $173,513.28. Following the sale, the insider now directly owns 29,199 shares of the company’s stock, valued at $284,982.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 238,303 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total value of $2,399,711.21. Following the completion of the sale, the director now directly owns 10,680,286 shares in the company, valued at $107,550,480.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,324,213 shares of company stock worth $13,539,110. 14.05% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its holdings in Vonage by 54.2% in the second quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock valued at $4,871,000 after purchasing an additional 261,918 shares during the period. Wells Fargo & Company MN lifted its position in shares of Vonage by 20.8% in the third quarter. Wells Fargo & Company MN now owns 474,112 shares of the technology company’s stock valued at $3,859,000 after acquiring an additional 81,710 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Vonage by 2.2% in the second quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock valued at $131,960,000 after acquiring an additional 437,370 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Vonage by 320.4% in the second quarter. Ameriprise Financial Inc. now owns 390,096 shares of the technology company’s stock valued at $2,571,000 after acquiring an additional 297,302 shares in the last quarter. Finally, ING Groep NV purchased a new position in shares of Vonage in the third quarter valued at approximately $324,000. 84.88% of the stock is currently owned by institutional investors.
Vonage 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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