Vonage (VG) Receives Buy Rating from William Blair

William Blair reiterated their buy rating on shares of Vonage (NYSE:VG) in a report published on Wednesday morning.

“We are not surprised by the move. While Mr . Gilvar brought excellence to the marketing function at Vonage, his background is predominantly in consumer marketing. We suspect the company will seek a replacement as it transitions entirely to the business side and drives its Vonage Business Cloud (VBC) platform approach forward. The company has revamped the entire vonage.com website recently to direct visitors strictly to Vonage Business, showing off its SMB/midsize (VBC) and enterprise platforms (Vonage Enterprise) along with significant collateral for channel partners/V ARs. An external CMO candidate with first-hand experience on B2B, cloud, and SaaS would not be out of the realm of possibility , in our view . This move would ultimately accentuate Vonage’s platform approach and more importantly its UCaaS growth.”,” the firm’s analyst commented.

VG has been the topic of several other reports. Zacks Investment Research downgraded shares of Vonage from a buy rating to a hold rating in a research note on Thursday, April 26th. ValuEngine raised shares of Vonage from a hold rating to a buy rating in a research note on Thursday, March 1st. Robert W. Baird reaffirmed an outperform rating and set a $12.00 target price (up from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Finally, Summit Redstone reaffirmed a hold rating on shares of Vonage in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Vonage has a consensus rating of Buy and a consensus target price of $10.63.

Vonage opened at $11.35 on Wednesday, MarketBeat Ratings reports. The company has a market capitalization of $2.71 billion, a PE ratio of 40.54, a P/E/G ratio of 5.67 and a beta of 0.03. Vonage has a 1 year low of $6.28 and a 1 year high of $11.94. The company has a current ratio of 0.74, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42.

Vonage (NYSE:VG) last announced its earnings results on Tuesday, May 8th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Vonage had a negative net margin of 1.51% and a positive return on equity of 16.84%. The firm had revenue of $253.60 million for the quarter, compared to the consensus estimate of $251.76 million. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts forecast that Vonage will post 0.4 EPS for the current year.

In other news, CMO Edward M. Gilvar sold 11,322 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $10.72, for a total value of $121,371.84. Following the completion of the transaction, the chief marketing officer now owns 128,825 shares in the company, valued at approximately $1,381,004. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alan Masarek sold 165,804 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $10.29, for a total transaction of $1,706,123.16. Following the sale, the chief executive officer now owns 983,423 shares of the company’s stock, valued at approximately $10,119,422.67. The disclosure for this sale can be found here. In the last 90 days, insiders bought 88,000 shares of company stock valued at $18,690 and sold 2,445,736 shares valued at $26,565,775. Corporate insiders own 8.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Vonage by 87.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares during the period. Pitcairn Co. acquired a new stake in Vonage during the 1st quarter worth $108,000. Zeke Capital Advisors LLC acquired a new stake in Vonage during the 1st quarter worth $120,000. LS Investment Advisors LLC boosted its stake in Vonage by 83.5% during the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after purchasing an additional 5,683 shares during the period. Finally, Element Capital Management LLC acquired a new stake in Vonage during the 1st quarter worth $136,000. Hedge funds and other institutional investors own 85.15% of the company’s stock.

Vonage Company Profile

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

Analyst Recommendations for Vonage (NYSE:VG)

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