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.
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