Analysts expect that Vonage Holdings Corp. (NYSE:VG) will post $254.68 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Vonage’s earnings, with the highest sales estimate coming in at $256.31 million and the lowest estimate coming in at $253.80 million. Vonage reported sales of $251.84 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The business is scheduled to issue its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Vonage will report full year sales of $1.03 billion for the current year, with estimates ranging from $1.03 billion to $1.04 billion. For the next year, analysts anticipate that the business will report sales of $1.09 billion per share, with estimates ranging from $1.06 billion to $1.13 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Vonage.
Vonage (NYSE:VG) last posted its quarterly earnings results on Tuesday, May 8th. The technology company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.05. The business had revenue of $253.60 million during the quarter, compared to the consensus estimate of $251.76 million. Vonage had a negative net margin of 1.51% and a positive return on equity of 16.84%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share.
VG has been the subject of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $12.00 target price (up previously from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, April 20th. Finally, William Blair reiterated a “buy” rating on shares of Vonage in a research note on Wednesday, May 16th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Vonage currently has a consensus rating of “Buy” and a consensus target price of $10.63.
In other Vonage news, Director Jeffrey A. Citron sold 233,332 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $11.28, for a total value of $2,631,984.96. Following the completion of the transaction, the director now owns 12,247,439 shares in the company, valued at $138,151,111.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jayesh Patel sold 2,400 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $11.39, for a total transaction of $27,336.00. Following the completion of the transaction, the senior vice president now owns 8,748 shares of the company’s stock, valued at approximately $99,639.72. The disclosure for this sale can be found here. Insiders sold 1,710,268 shares of company stock valued at $19,329,679 in the last 90 days. 8.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Vonage by 87.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after acquiring an additional 4,569 shares in the last quarter. Pitcairn Co. acquired a new position in Vonage in the first quarter valued at $108,000. Zeke Capital Advisors LLC acquired a new position in Vonage in the first quarter valued at $120,000. LS Investment Advisors LLC boosted its stake in Vonage by 83.5% in the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after acquiring an additional 5,683 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Vonage by 103.4% in the fourth quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after acquiring an additional 6,581 shares in the last quarter. Institutional investors own 83.99% of the company’s stock.
Shares of Vonage opened at $12.37 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.74 and a quick ratio of 0.72. The firm has a market cap of $2.94 billion, a P/E ratio of 44.18, a PEG ratio of 6.02 and a beta of 0.06. Vonage has a 12 month low of $6.28 and a 12 month high of $12.51.
Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.