Equities analysts forecast that Vonage Holdings (NYSE:VG) will post $252.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Vonage’s earnings, with the highest sales estimate coming in at $254.21 million and the lowest estimate coming in at $250.59 million. Vonage posted sales of $243.35 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The business is expected to announce its next quarterly earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Vonage will report full year sales of $1.04 billion for the current fiscal year, with estimates ranging from $1.03 billion to $1.06 billion. For the next year, analysts expect that the company will report sales of $1.10 billion per share, with estimates ranging from $1.06 billion to $1.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Vonage.

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Vonage (NYSE:VG) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $254.00 million during the quarter, compared to the consensus estimate of $254.19 million. Vonage had a positive return on equity of 14.13% and a negative net margin of 3.39%. Vonage’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS.

A number of equities research analysts have recently weighed in on VG shares. ValuEngine raised shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $12.00 target price (up previously from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Summit Redstone reaffirmed a “hold” rating on shares of Vonage in a research note on Friday, February 9th. Finally, Zacks Investment Research reaffirmed a “hold” rating and set a $11.00 target price on shares of Vonage in a research note on Saturday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $10.41.

Vonage stock traded up $0.21 during trading hours on Wednesday, reaching $10.89. The stock had a trading volume of 799,591 shares, compared to its average volume of 1,742,810. The firm has a market cap of $2,442.21, a PE ratio of 38.89, a price-to-earnings-growth ratio of 5.87 and a beta of 0.04. Vonage has a 52 week low of $6.11 and a 52 week high of $11.65. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.45.

In related news, Director Jeffrey A. Citron sold 500,000 shares of Vonage stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $10.83, for a total transaction of $5,415,000.00. Following the completion of the transaction, the director now directly owns 12,243,391 shares of the company’s stock, valued at approximately $132,595,924.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Alan Masarek sold 487,703 shares of Vonage stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $10.34, for a total transaction of $5,042,849.02. Following the transaction, the chief executive officer now directly owns 983,423 shares of the company’s stock, valued at $10,168,593.82. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 100,000 shares of company stock worth $21,330 and have sold 1,475,375 shares worth $15,660,648. Insiders own 14.05% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Vonage by 0.9% during the 4th quarter. BlackRock Inc. now owns 28,008,139 shares of the technology company’s stock valued at $284,843,000 after acquiring an additional 261,883 shares during the period. Dimensional Fund Advisors LP raised its holdings in Vonage by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 6,984,257 shares of the technology company’s stock worth $56,853,000 after buying an additional 22,698 shares during the last quarter. First Trust Advisors LP raised its holdings in Vonage by 0.3% in the fourth quarter. First Trust Advisors LP now owns 6,503,508 shares of the technology company’s stock worth $66,141,000 after buying an additional 16,551 shares during the last quarter. Millennium Management LLC raised its holdings in Vonage by 92.3% in the fourth quarter. Millennium Management LLC now owns 2,989,008 shares of the technology company’s stock worth $30,398,000 after buying an additional 1,435,026 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Vonage by 103.5% in the third quarter. Bank of New York Mellon Corp now owns 2,674,457 shares of the technology company’s stock worth $21,769,000 after buying an additional 1,360,141 shares during the last quarter. 86.25% of the stock is owned by institutional investors.

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Vonage Company Profile

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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