Somewhat Positive Media Coverage Somewhat Unlikely to Impact Vonage Holdings Corp. (VG) Stock Price
Media headlines about Vonage Holdings Corp. (NYSE:VG) have trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Vonage Holdings Corp. earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave media stories about the technology company an impact score of 46.1327314316098 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
- $249.30 Million in Sales Expected for Vonage Holdings Corp. (VG) This Quarter (americanbankingnews.com)
- $0.07 EPS Expected for Vonage Holdings Corp. (VG) This Quarter (americanbankingnews.com)
- Vonage Holdings Corp. (VG) Stock Rating Reaffirmed by Northland Securities (americanbankingnews.com)
- Vonage Holdings Corp. Announces Date of Earnings Release and Conference Call for Third Quarter 2017 Results (finance.yahoo.com)
VG has been the subject of a number of analyst reports. Northland Securities reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Citigroup Inc. reissued a “buy” rating and issued a $9.75 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. FBN Securities downgraded shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $9.16.
Vonage Holdings Corp. (NYSE VG) traded down 0.49% during mid-day trading on Tuesday, hitting $8.17. 353,785 shares of the stock were exchanged. Vonage Holdings Corp. has a 52 week low of $5.74 and a 52 week high of $8.69. The company has a market capitalization of $1.86 billion, a PE ratio of 102.12 and a beta of -0.11. The stock’s 50-day moving average is $8.14 and its 200 day moving average is $7.18.
Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $242.05 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate that Vonage Holdings Corp. will post $0.27 EPS for the current year.
In related news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $7.99, for a total value of $3,315,154.87. Following the sale, the director now directly owns 12,670,751 shares of the company’s stock, valued at $101,239,300.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David T. Pearson sold 198,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the completion of the sale, the chief financial officer now directly owns 216,119 shares in the company, valued at $1,744,080.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,028,176 shares of company stock worth $8,280,784. Insiders own 14.05% of the company’s stock.
About Vonage Holdings Corp.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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