Brokerages Set Vonage Holdings Corp. (VG) Price Target at $9.72

Shares of Vonage Holdings Corp. (NYSE:VG) have been assigned an average rating of “Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.71.

VG has been the topic of a number of recent analyst reports. Northland Securities reaffirmed a “buy” rating and set a $9.50 price target on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. Zacks Investment Research raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Saturday. Citigroup Inc. reissued a “buy” rating and issued a $11.00 target price on shares of Vonage Holdings Corp. in a research report on Wednesday, November 8th. They noted that the move was a valuation call. BidaskClub raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Robert W. Baird reissued a “buy” rating and issued a $9.00 target price on shares of Vonage Holdings Corp. in a research report on Friday, October 20th.

Shares of Vonage Holdings Corp. (NYSE:VG) traded up $0.26 during mid-day trading on Friday, hitting $9.04. The stock had a trading volume of 2,170,000 shares, compared to its average volume of 2,570,242. The firm has a market capitalization of $2,007.73, a P/E ratio of 39.91, a PEG ratio of 6.39 and a beta of -0.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $9.08.

Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $253.10 million for the quarter, compared to the consensus estimate of $249.02 million. Vonage Holdings Corp. had a return on equity of 11.47% and a net margin of 2.14%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. sell-side analysts forecast that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.

In other news, Director Jeffrey A. Citron sold 138,303 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the sale, the director now directly owns 12,676,047 shares of the company’s stock, valued at approximately $103,309,783.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David T. Pearson sold 198,350 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following 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 have sold 1,581,392 shares of company stock worth $12,777,047. Corporate insiders own 14.05% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VG. Aperio Group LLC raised its position in shares of Vonage Holdings Corp. 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 purchasing an additional 433 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of Vonage Holdings Corp. by 2.6% during the 2nd quarter. Suntrust Banks Inc. now owns 31,971 shares of the technology company’s stock worth $209,000 after purchasing an additional 807 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Vonage Holdings Corp. by 4.2% during the 2nd quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after purchasing an additional 813 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Vonage Holdings Corp. by 5.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 32,101 shares of the technology company’s stock worth $210,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Vonage Holdings Corp. by 2.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 126,994 shares of the technology company’s stock worth $803,000 after purchasing an additional 2,542 shares during the last quarter. Hedge funds and other institutional investors own 80.53% of the company’s stock.

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Vonage Holdings Corp. 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.

Analyst Recommendations for Vonage Holdings Corp. (NYSE:VG)

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