Where Free Speech Goes To Live

THE NEWS COMMENTER

Screenshot Foxbusiness.com
VOTE  (0)  (0)

How Vonage Holdings, Inc. Stock Rose 48.5% in 2017


Added 01-08-18 09:04:01pm EST - “A pair of solid earnings reports showed that the new business strategy is gaining traction.” - Foxbusiness.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Foxbusiness.com: “How Vonage Holdings, Inc. Stock Rose 48.5% in 2017”. Below is an excerpt from the article.

Published January 08, 2018 Markets Motley Fool

Shares of Vonage Holdings (NYSE: VG) gained 48.5% in 2017, according to data from S&P Global Market Intelligence. The provider of digital communications services had a rocky year with plenty of speed bumps, but when times were good, the stock simply skyrocketed.

Vonage shares were trailing the wider market at the middle of 2017, even trading down by a few percent. Then the company reported second-quarter results in early August, and stock prices jumped 12% higher the next day. The report was a mild surprise, exceeding Wall Street's revenue estimates by 2% and their earnings consensus by a single penny per share.

Vonage then traded sideways for three months, until the third-quarter report in November triggered another 8% surge overnight. This time, several analysts followed up on the report, which showed in-line earnings and strong sales, with a handful of uprades or price target boosts. All told, Vonage shares soared 25% higher in November alone.

Formerly known as the seller of internet-based phone services aimed at the consumer market, Vonage has retrained its targets on the more lucrative market for corporate communications. Accordingly, Vonage's consumer sales are dwindling while enterprise and small-business clients more than make up for the difference.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE