Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 275,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $11.27, for a total transaction of $3,099,250.00. Following the transaction, the director now owns 8,702,829 shares of the company’s stock, valued at approximately $98,080,882.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Vonage stock opened at $11.33 on Friday. Vonage Holdings Corp. has a 12-month low of $7.91 and a 12-month high of $14.73. The stock has a market capitalization of $2.82 billion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 10.75 and a beta of 0.35. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a 50-day moving average price of $11.63.
Vonage (NYSE:VG) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Vonage had a net margin of 0.99% and a return on equity of 12.11%. The firm had revenue of $280.00 million for the quarter, compared to the consensus estimate of $277.82 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Vonage Holdings Corp. will post 0.22 EPS for the current year.
VG has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Vonage in a research report on Friday, May 31st. They set a “buy” rating and a $15.00 target price for the company. Stephens reissued a “buy” rating on shares of Vonage in a report on Monday, April 29th. Summit Insights reissued a “hold” rating on shares of Vonage in a report on Thursday, April 4th. Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Guggenheim initiated coverage on shares of Vonage in a report on Monday, March 11th. They issued a “neutral” rating and a $10.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.83.
Vonage Company Profile
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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