Vonage Holdings (NYSE:VG) Director Jeffrey A. Citron sold 233,332 shares of Vonage stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $11.28, for a total transaction of $2,631,984.96. Following the completion of the transaction, the director now directly owns 12,247,439 shares of the company’s stock, valued at approximately $138,151,111.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Vonage traded up $0.01, hitting $11.19, during midday trading on Tuesday, MarketBeat reports. The company’s stock had a trading volume of 1,298,300 shares, compared to its average volume of 1,647,730. Vonage Holdings has a 1-year low of $11.03 and a 1-year high of $11.21. The company has a quick ratio of 0.72, a current ratio of 0.74 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 39.82, a price-to-earnings-growth ratio of 5.70 and a beta of 0.03.
Vonage (NYSE:VG) last issued its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Vonage had a negative net margin of 1.51% and a positive return on equity of 16.84%. The business had revenue of $253.60 million during the quarter, compared to analysts’ expectations of $251.76 million. During the same quarter in the previous year, the company earned $0.07 EPS. The business’s revenue was up 4.2% on a year-over-year basis. sell-side analysts anticipate that Vonage Holdings will post 0.4 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, April 20th. ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Robert W. Baird restated an “outperform” rating and set a $12.00 target price (up previously from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Finally, Summit Redstone restated a “hold” rating on shares of Vonage in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $10.63.
Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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