Oppenheimer Holdings Brokers Cut Earnings Estimates for Vonage Holdings Corp. (VG)

Vonage Holdings Corp. (NYSE:VG) – Equities researchers at Oppenheimer Holdings decreased their FY2018 EPS estimates for Vonage Holdings Corp. in a report released on Friday. Oppenheimer Holdings analyst T. Horan now anticipates that the technology company will post earnings of $0.30 per share for the year, down from their prior estimate of $0.31.

A number of other analysts also recently issued reports on VG. William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a report on Wednesday, May 24th. Zacks Investment Research downgraded shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Dougherty & Co dropped their price target on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a report on Friday, August 4th. BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Finally, FBN Securities downgraded shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price target on the stock. in a report on Thursday, August 10th. 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. currently has an average rating of “Buy” and a consensus price target of $8.89.

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Vonage Holdings Corp. (NYSE VG) traded down 1.1085% on Monday, reaching $8.0201. 302,836 shares of the company traded hands. The stock has a 50-day moving average of $7.98 and a 200 day moving average of $6.92. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $8.50. The company has a market capitalization of $1.82 billion, a PE ratio of 100.2513 and a beta of -0.09.

Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $252.00 million for the quarter, compared to the consensus estimate of $242.05 million. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. Vonage Holdings Corp.’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS.

In other news, Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total transaction of $2,808,961.01. Following the sale, the director now 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 at this link. Also, CFO David T. Pearson sold 198,350 shares of Vonage Holdings Corp. stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the sale, the chief financial officer now owns 216,119 shares in the company, valued at approximately $1,744,080.33. The disclosure for this sale can be found here. Insiders have sold 1,028,176 shares of company stock worth $7,774,590 in the last ninety days. Insiders own 14.05% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in VG. Strs Ohio increased its position in Vonage Holdings Corp. by 1.3% in the first quarter. Strs Ohio now owns 145,000 shares of the technology company’s stock worth $916,000 after purchasing an additional 1,800 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Vonage Holdings Corp. by 17.0% during the first quarter. Wells Fargo & Company MN now owns 396,762 shares of the technology company’s stock worth $2,507,000 after buying an additional 57,707 shares during the period. Eqis Capital Management Inc. boosted its stake in Vonage Holdings Corp. by 19.8% during 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 period. Suntrust Banks Inc. boosted its stake in Vonage Holdings Corp. by 2.4% during the first quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock worth $196,000 after buying an additional 718 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Vonage Holdings Corp. by 65.3% during the first quarter. BNP Paribas Arbitrage SA now owns 53,153 shares of the technology company’s stock worth $336,000 after buying an additional 21,001 shares during the period. Hedge funds and other institutional investors own 79.57% 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.

Earnings History and Estimates for Vonage Holdings Corp. (NYSE:VG)

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