Vonage Holdings Corp. (NYSE:VG) – Oppenheimer Holdings decreased their Q2 2017 EPS estimates for shares of Vonage Holdings Corp. in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst T. Horan now forecasts that the technology company will earn $0.06 per share for the quarter, down from their previous estimate of $0.08. Oppenheimer Holdings also issued estimates for Vonage Holdings Corp.’s FY2017 earnings at $0.34 EPS.
Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Tuesday, May 9th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The company had revenue of $243.30 million during the quarter, compared to analysts’ expectations of $242.40 million. Vonage Holdings Corp. had a net margin of 2.27% and a return on equity of 17.99%. Vonage Holdings Corp.’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share.
Several other brokerages also recently commented on VG. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Vonage Holdings Corp. in a research note on Friday, January 13th. William Blair restated a “buy” rating on shares of Vonage Holdings Corp. in a research note on Thursday, May 4th. Finally, Zacks Investment Research downgraded Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, February 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Vonage Holdings Corp. presently has an average rating of “Buy” and a consensus target price of $8.00.
Shares of Vonage Holdings Corp. (NYSE:VG) opened at 7.02 on Wednesday. Vonage Holdings Corp. has a 12 month low of $3.82 and a 12 month high of $7.88. The company has a market cap of $1.54 billion, a PE ratio of 87.75 and a beta of 0.25. The stock has a 50 day moving average of $6.43 and a 200-day moving average of $6.63.
In other news, SVP Mcgonigal Graham sold 40,000 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $6.76, for a total transaction of $270,400.00. Following the completion of the sale, the senior vice president now owns 275,096 shares in the company, valued at approximately $1,859,648.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Antoine Jamous sold 150,000 shares of Vonage Holdings Corp. stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $6.86, for a total value of $1,029,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,229,965 shares of company stock valued at $14,388,641. Corporate insiders own 14.59% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC purchased a new stake in Vonage Holdings Corp. during the first quarter worth $105,000. Eqis Capital Management Inc. increased its stake in Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock worth $122,000 after buying an additional 3,176 shares during the last quarter. Aperio Group LLC increased its stake in Vonage Holdings Corp. by 7.8% in the third quarter. Aperio Group LLC now owns 18,642 shares of the technology company’s stock worth $123,000 after buying an additional 1,341 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Vonage Holdings Corp. during the first quarter worth $126,000. Finally, Oberweis Asset Management Inc. purchased a new stake in Vonage Holdings Corp. during the fourth quarter worth $133,000. Hedge funds and other institutional investors own 77.13% 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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