Vonage Holdings Corp. (VG) Expected to Announce Quarterly Sales of $274.60 Million

Wall Street brokerages expect that Vonage Holdings Corp. (NYSE:VG) will post $274.60 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Vonage’s earnings. The highest sales estimate is $276.48 million and the lowest is $273.37 million. Vonage reported sales of $254.02 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The firm is expected to report its next earnings results before the market opens on Thursday, February 21st.

On average, analysts expect that Vonage will report full-year sales of $1.05 billion for the current year. For the next fiscal year, analysts anticipate that the company will report sales of $1.16 billion, with estimates ranging from $1.11 billion to $1.20 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Vonage.

Several analysts have recently weighed in on VG shares. Zacks Investment Research downgraded shares of Vonage from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. Dougherty & Co restated a “buy” rating and set a $19.00 price objective on shares of Vonage in a research report on Thursday, November 29th. ValuEngine downgraded shares of Vonage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 1st. Stephens initiated coverage on shares of Vonage in a research report on Thursday, January 3rd. They issued an “overweight” rating and a $14.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Vonage in a research report on Monday, January 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Vonage currently has an average rating of “Buy” and an average price target of $14.83.

Shares of NYSE:VG traded up $0.28 during trading on Monday, hitting $9.98. 1,566,678 shares of the company were exchanged, compared to its average volume of 2,037,900. The company has a market capitalization of $2.39 billion, a PE ratio of 35.64, a P/E/G ratio of 8.06 and a beta of 0.59. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37. Vonage has a 12-month low of $7.91 and a 12-month high of $14.73.

In related news, Director Jeffrey A. Citron sold 233,332 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $10.69, for a total value of $2,494,319.08. Following the completion of the sale, the director now owns 8,553,862 shares in the company, valued at approximately $91,440,784.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 83,334 shares of the company’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $8.95, for a total transaction of $745,839.30. Following the completion of the sale, the director now owns 8,558,801 shares of the company’s stock, valued at approximately $76,601,268.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,433,330 shares of company stock valued at $14,243,967. 8.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Vonage by 2.4% during the 4th quarter. BlackRock Inc. now owns 32,275,483 shares of the technology company’s stock worth $281,766,000 after buying an additional 756,455 shares during the last quarter. Alliancebernstein L.P. raised its position in Vonage by 3.2% during the 3rd quarter. Alliancebernstein L.P. now owns 8,753,955 shares of the technology company’s stock worth $123,956,000 after buying an additional 271,892 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Vonage by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,776,828 shares of the technology company’s stock worth $59,161,000 after buying an additional 111,267 shares during the last quarter. Glenmede Trust Co. NA raised its position in Vonage by 15.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,545,778 shares of the technology company’s stock worth $64,368,000 after buying an additional 595,360 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in Vonage by 0.3% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 3,690,621 shares of the technology company’s stock worth $52,259,000 after buying an additional 9,349 shares during the last quarter. Hedge funds and other institutional investors own 85.38% 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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