Vonage Holdings Corp. (NYSE:VG) – Equities research analysts at William Blair reduced their Q4 2017 earnings per share estimates for Vonage Holdings Corp. in a report issued on Thursday. William Blair analyst D. Netis now expects that the technology company will post earnings per share of $0.06 for the quarter, down from their previous estimate of $0.07. William Blair currently has a “Outperform” rating on the stock.
Other equities research analysts have also issued research reports about the company. BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday. Dougherty & Co decreased their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 4th. Finally, Zacks Investment Research raised Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $8.31.
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Shares of Vonage Holdings Corp. (NYSE:VG) traded up 1.45% during mid-day trading on Monday, reaching $8.40. 3,399,575 shares of the company traded hands. Vonage Holdings Corp. has a 52 week low of $5.43 and a 52 week high of $8.40. The stock has a market capitalization of $1.87 billion, a PE ratio of 137.70 and a beta of -0.01. The firm has a 50 day moving average of $6.65 and a 200-day moving average of $6.60.
Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm had revenue of $252 million for the quarter, compared to the consensus estimate of $242.05 million. During the same period in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 7.8% compared to the same quarter last year.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Vonage Holdings Corp. by 9.7% in the first quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock valued at $124,757,000 after buying an additional 1,741,500 shares during the period. Wellington Management Group LLP increased its position in shares of Vonage Holdings Corp. by 16.9% in the first quarter. Wellington Management Group LLP now owns 17,507,400 shares of the technology company’s stock valued at $110,647,000 after buying an additional 2,533,213 shares during the period. BlackRock Inc. increased its position in shares of Vonage Holdings Corp. by 36,952.8% in the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after buying an additional 15,711,217 shares during the period. Alliancebernstein L.P. increased its position in shares of Vonage Holdings Corp. by 998.4% in the first quarter. Alliancebernstein L.P. now owns 9,866,561 shares of the technology company’s stock valued at $62,357,000 after buying an additional 8,968,261 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Vonage Holdings Corp. by 12.2% in the second quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock valued at $46,960,000 after buying an additional 780,436 shares during the period. 76.82% of the stock is currently owned by institutional investors and hedge funds.
In other Vonage Holdings Corp. news, CFO David T. Pearson sold 666,667 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $7.02, for a total value of $4,680,002.34. Following the sale, the chief financial officer now owns 948,241 shares of the company’s stock, valued at approximately $6,656,651.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 276,606 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $6.57, for a total value of $1,817,301.42. Following the completion of the sale, the director now directly owns 12,664,157 shares in the company, valued at approximately $83,203,511.49. The disclosure for this sale can be found here. Insiders have sold a total of 4,024,852 shares of company stock valued at $27,972,927 over the last 90 days. 14.05% of the stock is currently owned by company insiders.
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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