Vonage Holdings Corp. (VG) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.06. The company posted revenue of $226.82 million in the period, compared to analysts expectations of $227.04 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.
Many Wall Street Analysts have commented on Vonage Holdings Corp.. Needham Initiated Vonage Holdings Corp. on Apr 7, 2016 to “Buy”, Price Target of the shares are set at $6.Shares were Reiterated by Dougherty & Company on Feb 12, 2016 to “Buy” and Lowered the Price Target to $ 7 from a previous price target of $9.50 .Shares were Reiterated by Oppenheimer on Feb 12, 2016 to “Outperform” and Lowered the Price Target to $ 6.50 from a previous price target of $8 .
Vonage Holdings Corp. opened for trading at $4.64 and hit $4.975 on the upside on Wednesday, eventually ending the session at $4.9, with a gain of 5.60% or 0.26 points. The heightened volatility saw the trading volume jump to 40,47,417 shares. Company has a market cap of $1,048 M.
In a different news, on Mar 14, 2016, David C Nagel (director) sold 10,000 shares at $4.94 per share price. According to the SEC, on Jun 29, 2015, Mcgonigal Graham (SVP, Network Operations) sold 102,500 shares at $5.00 per share price. On Jun 3, 2015, Morton David (director) sold 10,000 shares at $4.64 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.