Several brokerages have updated their recommendations and price targets on shares of Vonage Holdings Corp. (NYSE: VG) in the last few weeks:
- 10/6/2016 – Vonage Holdings Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $7.25 price target on the stock. According to Zacks, “VONAGE HOLDINGS CORP. is a leading provider of digital phone services with over two million subscriber lines. Their award-winning technology enables anyone to make and receive phone calls with a touch tone telephone almost anywhere a broadband Internet connection is available. They offer feature-rich and cost-effective communication services that offer users an experience similar to traditional telephone services. The Residential Premium Unlimited and Small Business Unlimited calling plans offer consumers unlimited local and long distance calling, and popular features like call waiting, call forwarding and voicemail – for one low, flat monthly rate. Vonage’s service is sold on the web and through national retailers including Best Buy, Circuit City, Wal-Mart Stores Inc. and Target and is available to customers in the U.S., Canada and the United Kingdom. “
- 9/28/2016 – Vonage Holdings Corp. was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating.
- 9/26/2016 – Vonage Holdings Corp. had its price target raised by analysts at Needham & Company LLC from $8.00 to $9.00. They now have a “buy” rating on the stock.
- 9/23/2016 – Vonage Holdings Corp. had its “outperform” rating reaffirmed by analysts at William Blair.
- 9/13/2016 – Vonage Holdings Corp. is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $8.00 price target on the stock.
- 9/12/2016 – Vonage Holdings Corp. had its price target raised by analysts at Dougherty & Co from $8.00 to $9.00. They now have a “buy” rating on the stock.
Vonage Holdings Corp. (NYSE:VG) opened at 6.27 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 88.31 and a beta of 0.74. Vonage Holdings Corp. has a 12 month low of $3.82 and a 12 month high of $7.42. The firm’s 50 day moving average price is $6.26 and its 200 day moving average price is $5.41.
Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Vonage Holdings Corp. had a net margin of 1.71% and a return on equity of 17.58%. The business had revenue of $234 million for the quarter, compared to analyst estimates of $226.48 million. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.
In related news, Director Jeffrey A. Citron sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $6.08, for a total value of $6,080,000.00. Following the transaction, the director now directly owns 12,644,516 shares of the company’s stock, valued at approximately $76,878,657.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Citron sold 500,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $6.45, for a total transaction of $3,225,000.00. Following the completion of the transaction, the director now directly owns 12,644,516 shares in the company, valued at $81,557,128.20. The disclosure for this sale can be found here. Insiders own 14.59% of the company’s stock.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. 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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