Vonage Holdings Corp. (NYSE:VG) shares traded up 5.6% during trading on Friday . The stock traded as high as $10.56 and last traded at $10.55. 2,979,366 shares were traded during mid-day trading, an increase of 51% from the average session volume of 1,973,061 shares. The stock had previously closed at $9.99.
Several research analysts recently commented on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $12.00 target price (up from $11.00) on shares of Vonage in a research note on Thursday. Zacks Investment Research raised shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Saturday, January 6th. Summit Redstone reaffirmed a “hold” rating on shares of Vonage in a research note on Friday, February 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price (up from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $11.00 target price (up from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Vonage has an average rating of “Buy” and an average price target of $10.41.
The stock has a market cap of $2,412.48, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 5.78 and a beta of -0.04.
Vonage (NYSE:VG) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $254.00 million during the quarter, compared to the consensus estimate of $254.19 million. Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. research analysts predict that Vonage Holdings Corp. will post 0.37 earnings per share for the current year.
In related news, Director Jeffrey A. Citron sold 138,303 shares of Vonage stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $10.14, for a total value of $1,402,392.42. Following the sale, the director now owns 10,676,047 shares in the company, valued at $108,255,116.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Citron sold 514,913 shares of Vonage stock in a transaction on Friday, January 12th. The shares were sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the completion of the sale, the director now owns 10,680,286 shares in the company, valued at approximately $110,754,565.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,306,435 shares of company stock worth $13,365,596. 14.05% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in VG. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vonage by 87.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after buying an additional 4,569 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Vonage during the 3rd quarter valued at $112,000. LS Investment Advisors LLC boosted its holdings in shares of Vonage by 83.5% during the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after buying an additional 5,683 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Vonage by 103.4% during the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after buying an additional 6,581 shares in the last quarter. Finally, Fortaleza Asset Management Inc. bought a new stake in shares of Vonage during the 4th quarter valued at $142,000. Institutional investors and hedge funds own 84.88% of the company’s stock.
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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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