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.
ILLEGAL ACTIVITY NOTICE: “Brokerages Set Vonage Holdings Corp. (VG) Price Target at $9.81” was first published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thelincolnianonline.com/2017/12/12/brokerages-set-vonage-holdings-corp-vg-price-target-at-9-81.html.
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.
Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.