Vonage Holdings Corp. (NYSE:VG) has received an average recommendation of “Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.10.
Several brokerages recently issued reports on VG. Needham & Company LLC upped their price target on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird reiterated a “buy” rating on shares of Vonage in a report on Friday, November 17th. Zacks Investment Research upgraded Vonage from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Saturday, November 11th. Oppenheimer upped their price objective on Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, Citigroup restated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call.
Shares of Vonage (NYSE VG) traded up $0.02 during trading on Thursday, reaching $9.93. The company had a trading volume of 1,266,496 shares, compared to its average volume of 2,524,167. Vonage has a 1-year low of $5.74 and a 1-year high of $10.49. The company has a market capitalization of $2,268.42, a P/E ratio of 45.09, a P/E/G ratio of 7.04 and a beta of -0.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63.
Vonage (NYSE:VG) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business had revenue of $253.10 million during the quarter, compared to the consensus estimate of $249.02 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. Vonage’s revenue was up 1.9% compared to the same quarter last year. sell-side analysts anticipate that Vonage will post 0.28 EPS for the current fiscal year.
In other news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the completion of the transaction, the director now owns 12,676,047 shares in the company, valued at approximately $102,929,501.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward M. Gilvar sold 17,778 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total value of $173,513.28. Following the transaction, the insider now owns 29,199 shares of the company’s stock, valued at approximately $284,982.24. The disclosure for this sale can be found here. Insiders sold a total of 1,539,123 shares of company stock valued at $12,962,492 in the last 90 days. Corporate insiders own 14.05% of the company’s stock.
Several hedge funds have recently bought and sold shares of VG. World Asset Management Inc bought a new position in shares of Vonage during the 3rd quarter worth $112,000. Bayesian Capital Management LP bought a new position in shares of Vonage during the 2nd quarter worth $118,000. Aperio Group LLC grew its stake in shares of Vonage by 2.2% during the 2nd quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after acquiring an additional 433 shares during the period. CIBC Asset Management Inc bought a new position in shares of Vonage during the 3rd quarter worth $148,000. Finally, SG Americas Securities LLC grew its stake in shares of Vonage by 108.4% during the 2nd quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock worth $160,000 after acquiring an additional 12,701 shares during the period. Institutional investors own 84.01% of the company’s stock.
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Vonage Company Profile
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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