Vonage (NASDAQ:VG) Posts Earnings Results, Misses Estimates By $0.07 EPS

Vonage (NASDAQ:VGGet Rating) posted its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07), Briefing.com reports. The company had revenue of $358.80 million during the quarter, compared to the consensus estimate of $367.15 million. Vonage had a positive return on equity of 5.29% and a negative net margin of 1.74%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS.

Vonage stock opened at $19.44 on Friday. The business has a 50 day moving average of $20.14 and a 200-day moving average of $19.78. Vonage has a 1 year low of $12.15 and a 1 year high of $20.92. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $4.99 billion, a P/E ratio of -194.38 and a beta of 0.60.

Separately, Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a report on Thursday. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Vonage currently has a consensus rating of “Hold” and an average price target of $19.57.

In other Vonage news, Director Jeffrey A. Citron sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $20.87, for a total transaction of $521,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vinod Lala sold 71,543 shares of the stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $20.12, for a total value of $1,439,445.16. The disclosure for this sale can be found here. Insiders have sold a total of 306,452 shares of company stock valued at $6,180,827 in the last three months. Insiders own 4.72% of the company’s stock.

Several institutional investors have recently bought and sold shares of VG. Barclays PLC boosted its holdings in shares of Vonage by 181.7% during the 4th quarter. Barclays PLC now owns 559,649 shares of the company’s stock worth $11,636,000 after buying an additional 361,005 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Vonage by 4.3% during the 4th quarter. LPL Financial LLC now owns 18,930 shares of the company’s stock worth $394,000 after buying an additional 783 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Vonage by 72.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 58,172 shares of the company’s stock worth $1,209,000 after buying an additional 24,372 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Vonage in the 4th quarter worth $98,000. Finally, Legal & General Group Plc lifted its holdings in shares of Vonage by 3.5% in the 4th quarter. Legal & General Group Plc now owns 717,831 shares of the company’s stock worth $14,924,000 after purchasing an additional 24,112 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.

Vonage Company Profile (Get Rating)

Vonage Holdings Corp. primarily operates as a cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.

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Earnings History for Vonage (NASDAQ:VG)

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