Vonage Holdings Corp. (VG) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.07. The company posted revenue of $233.70 million in the period, compared to analysts expectations of $226.80 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.
Many Wall Street Analysts have commented on Vonage Holdings Corp.. Company shares were Reiterated by Needham on Jun 28, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $6 .Vonage Holdings Corp. was Upgraded by Citigroup to ” Buy” on Jun 14, 2016.
Vonage Holdings Corp. opened for trading at $5.76 and hit $5.99 on the upside on Friday, eventually ending the session at $5.93, with a gain of 2.95% or 0.17 points. The heightened volatility saw the trading volume jump to 28,50,357 shares. Company has a market cap of $1,266 M.
In a different news, on Jun 30, 2016, Mcgonigal Graham (Chief Network Officer) sold 64,248 shares at $6.00 per share price. According to the SEC, on May 16, 2016, Alan Masarek (CEO) purchased 126,460 shares at $3.91 per share price. On Mar 14, 2016, David C Nagel (director) sold 10,000 shares at $4.94 per share price, according to the Form-4 filing with the securities and exchange commission.
Vonage Holdings Corp. is a provider of telecommunications and unified communications-as-a-service (UCaaS) solutions connecting people through cloud-connected devices around the world. The Company offers a scalable session initiation protocol (SIP)-based Voice over Internet Protocol (VoIP) network. Through this technology it offers voice and messaging services and other features around the world on various devices. This platform enables a user via a single identity either a number or user name to access and utilize services and features by being connected to the Internet over third generation (3G) Long-Term Evolution (LTE) cable or Digital Subscriber Line (DSL) broadband networks. The Company has operations in the United States the United Kingdom Brazil Israel and Canada. Its brand BasicTalk is a home phone service offering unlimited calling throughout the United States. It is focused on providing UCaaS solutions to domestic consumers and small and medium businesses.