Wall Street brokerages expect that Vonage Holdings Corp. (NYSE:VG) will announce sales of $287.07 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Vonage’s earnings. The lowest sales estimate is $282.57 million and the highest is $290.57 million. Vonage posted sales of $259.88 million during the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Vonage will report full year sales of $1.18 billion for the current financial year, with estimates ranging from $1.16 billion to $1.18 billion. For the next year, analysts forecast that the business will post sales of $1.31 billion, with estimates ranging from $1.24 billion to $1.34 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Vonage.

Vonage (NYSE:VG) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $280.00 million for the quarter, compared to analyst estimates of $277.82 million. Vonage had a return on equity of 12.11% and a net margin of 0.99%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share.

Several equities analysts recently issued reports on VG shares. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. Guggenheim started coverage on Vonage in a research note on Monday, March 11th. They set a “neutral” rating and a $10.00 price target on the stock. Stephens restated a “buy” rating and set a $14.00 price target on shares of Vonage in a research note on Thursday, February 21st. Finally, Summit Insights restated a “hold” rating on shares of Vonage in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $14.80.

In other news, Director Jeffrey A. Citron sold 233,334 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.03, for a total value of $2,340,340.02. Following the sale, the director now directly owns 8,558,801 shares in the company, valued at approximately $85,844,774.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $10.09, for a total value of $4,036,000.00. Following the completion of the sale, the director now owns 8,558,801 shares in the company, valued at $86,358,302.09. The disclosure for this sale can be found here. Insiders have sold 1,114,503 shares of company stock worth $11,104,848 over the last 90 days. Corporate insiders own 7.41% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in shares of Vonage by 15.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,244 shares of the technology company’s stock valued at $83,000 after purchasing an additional 1,093 shares during the period. Comerica Bank grew its stake in shares of Vonage by 0.5% in the 4th quarter. Comerica Bank now owns 214,156 shares of the technology company’s stock valued at $1,925,000 after purchasing an additional 1,115 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Vonage by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 85,364 shares of the technology company’s stock valued at $857,000 after purchasing an additional 1,542 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Vonage by 3.1% in the 1st quarter. OppenheimerFunds Inc. now owns 56,587 shares of the technology company’s stock valued at $568,000 after purchasing an additional 1,701 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its stake in shares of Vonage by 3.5% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 52,463 shares of the technology company’s stock valued at $458,000 after purchasing an additional 1,782 shares during the period. Institutional investors own 84.36% of the company’s stock.

Shares of VG opened at $11.28 on Tuesday. Vonage has a 12-month low of $7.91 and a 12-month high of $14.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market cap of $2.79 billion, a P/E ratio of 35.25, a PEG ratio of 12.88 and a beta of 0.60.

About Vonage

Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.

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