Dougherty & Co Weighs in on Vonage Holdings Corp.’s FY2017 Earnings (VG)
Vonage Holdings Corp. (NYSE:VG) – Dougherty & Co upped their FY2017 EPS estimates for Vonage Holdings Corp. in a report released on Thursday. Dougherty & Co analyst C. Trebnick now forecasts that the technology company will earn $0.21 per share for the year, up from their prior forecast of $0.20. Dougherty & Co currently has a “Buy” rating and a $8.50 target price on the stock. Dougherty & Co also issued estimates for Vonage Holdings Corp.’s FY2018 earnings at $0.20 EPS.
A number of other research firms have also weighed in on VG. William Blair reiterated an “outperform” rating on shares of Vonage Holdings Corp. in a research report on Wednesday, May 24th. Zacks Investment Research lowered shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, FBN Securities lowered shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective on the stock. in a research report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Vonage Holdings Corp. has a consensus rating of “Buy” and an average target price of $8.39.
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Vonage Holdings Corp. (NYSE VG) opened at 8.03 on Monday. The firm has a market capitalization of $1.83 billion, a PE ratio of 100.38 and a beta of -0.01. Vonage Holdings Corp. has a 1-year low of $5.65 and a 1-year high of $8.50. The company has a 50 day moving average of $7.06 and a 200 day moving average of $6.68.
Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the 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 during the quarter, compared to analysts’ expectations of $242.05 million. During the same period in the previous year, the business posted $0.08 EPS. The business’s revenue was up 7.8% compared to the same quarter last year.
In other Vonage Holdings Corp. news, CFO David T. Pearson sold 666,666 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $7.00, for a total value of $4,666,662.00. Following the completion of the sale, the chief financial officer now owns 948,241 shares of the company’s stock, valued at $6,637,687. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total value of $2,808,961.01. Following the completion of the sale, the director now directly owns 12,664,157 shares of the company’s stock, valued at approximately $85,736,342.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,163,159 shares of company stock worth $29,520,570. 14.05% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased its stake in Vonage Holdings Corp. by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 41,750 shares of the technology company’s stock worth $264,000 after buying an additional 125 shares during the period. Aperio Group LLC increased its stake in Vonage Holdings Corp. by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after buying an additional 433 shares during the period. Suntrust Banks Inc. increased its stake in Vonage Holdings Corp. by 2.4% in 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. Eqis Capital Management Inc. increased its stake in Vonage Holdings Corp. by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after buying an additional 813 shares during the period. Finally, Sei Investments Co. increased its stake in Vonage Holdings Corp. by 1.3% in the first quarter. Sei Investments Co. now owns 109,026 shares of the technology company’s stock worth $689,000 after buying an additional 1,409 shares during the period. 76.17% of the stock is owned by institutional investors.
Vonage Holdings Corp. Company Profile
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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