Vonage Holdings Corp. (NYSE:VG) – Equities researchers at Oppenheimer Holdings increased their Q4 2017 earnings per share (EPS) estimates for Vonage Holdings Corp. in a research report issued on Thursday. Oppenheimer Holdings analyst T. Horan now expects that the technology company will post earnings per share of $0.09 for the quarter, up from their prior forecast of $0.08. Oppenheimer Holdings also issued estimates for Vonage Holdings Corp.’s FY2018 earnings at $0.31 EPS.

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 company had revenue of $252 million for the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share.

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A number of other research firms have also commented on VG. Dougherty & Co reduced their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday. Zacks Investment Research raised Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, May 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $8.31.

Vonage Holdings Corp. (VG) opened at 7.66 on Monday. Vonage Holdings Corp. has a 12-month low of $5.43 and a 12-month high of $7.88. The company has a market cap of $1.70 billion, a PE ratio of 125.57 and a beta of -0.01. The company has a 50-day moving average price of $6.63 and a 200 day moving average price of $6.59.

Several large investors have recently modified their holdings of VG. MARSHALL WACE ASIA Ltd purchased a new stake in Vonage Holdings Corp. during the first quarter worth $1,192,000. Suntrust Banks Inc. boosted its position in shares of 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. Norges Bank bought a new position in shares of Vonage Holdings Corp. during the fourth quarter worth about $19,387,000. BlackRock Inc. boosted 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 worth $99,564,000 after buying an additional 15,711,217 shares during the period. Finally, Strs Ohio boosted its position in shares of 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 buying an additional 1,800 shares during the period. Institutional investors own 76.82% of the company’s stock.

In related news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $6.77, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David T. Pearson sold 666,667 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 948,241 shares in the company, valued at approximately $6,656,651.82. The disclosure for this sale can be found here. Insiders sold 4,069,375 shares of company stock valued at $28,295,719 over the last ninety days. Corporate insiders own 14.05% 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.

Earnings History and Estimates for Vonage Holdings Corp. (NYSE:VG)

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