FY2018 EPS Estimates for Vonage Holdings Corp. Lowered by Oppenheimer (VG)

Vonage Holdings Corp. (NYSE:VG) – Investment analysts at Oppenheimer reduced their FY2018 earnings estimates for Vonage in a research report issued to clients and investors on Thursday, September 20th. Oppenheimer analyst T. Horan now expects that the technology company will post earnings per share of $0.39 for the year, down from their prior estimate of $0.40. Oppenheimer also issued estimates for Vonage’s FY2019 earnings at $0.32 EPS.

Vonage (NYSE:VG) last released its earnings results on Wednesday, August 1st. The technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Vonage had a positive return on equity of 16.92% and a negative net margin of 1.14%. The company had revenue of $260.00 million for the quarter, compared to the consensus estimate of $254.95 million. During the same quarter last year, the business posted $0.07 EPS. Vonage’s quarterly revenue was up 3.2% compared to the same quarter last year.

A number of other research analysts also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Vonage in a report on Monday. Zacks Investment Research raised Vonage from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price (up previously from $13.00) on shares of Vonage in a report on Wednesday, August 1st. Finally, Citigroup increased their target price on Vonage to $16.00 and gave the stock a “buy” rating in a report on Monday, July 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $12.36.

NYSE:VG opened at $14.32 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.69 and a current ratio of 0.70. Vonage has a 52 week low of $7.85 and a 52 week high of $14.73. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 49.71, a PEG ratio of 7.35 and a beta of -0.08.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in Vonage by 68.7% during the 1st quarter. Wells Fargo & Company MN now owns 646,294 shares of the technology company’s stock valued at $6,882,000 after acquiring an additional 263,104 shares in the last quarter. Swiss National Bank raised its stake in Vonage by 2.3% during the 1st quarter. Swiss National Bank now owns 356,400 shares of the technology company’s stock valued at $3,796,000 after acquiring an additional 7,900 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Vonage by 8.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,432,838 shares of the technology company’s stock valued at $15,260,000 after acquiring an additional 108,285 shares in the last quarter. Aperio Group LLC raised its stake in Vonage by 11.3% during the 1st quarter. Aperio Group LLC now owns 44,104 shares of the technology company’s stock valued at $470,000 after acquiring an additional 4,488 shares in the last quarter. Finally, US Bancorp DE raised its stake in Vonage by 132.8% during the 1st quarter. US Bancorp DE now owns 72,518 shares of the technology company’s stock valued at $772,000 after acquiring an additional 41,361 shares in the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Alan Masarek sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $14.32, for a total value of $7,160,000.00. Following the sale, the chief executive officer now owns 495,189 shares of the company’s stock, valued at approximately $7,091,106.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David Levi sold 4,113 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $13.68, for a total value of $56,265.84. Following the completion of the sale, the senior vice president now directly owns 4,113 shares in the company, valued at approximately $56,265.84. The disclosure for this sale can be found here. In the last three months, insiders sold 2,550,893 shares of company stock worth $35,409,798. Company insiders own 8.70% of the company’s stock.

About Vonage

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.

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Earnings History and Estimates for Vonage (NYSE:VG)

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