Shares of Vonage Holdings Corp. (NYSE:VG) have earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $15.20.
Several equities analysts recently commented on VG shares. William Blair restated an “outperform” rating on shares of Vonage in a research report on Monday, September 24th. Stephens began coverage on Vonage in a research report on Thursday, January 3rd. They issued an “overweight” rating and a $14.00 target price for the company. ValuEngine lowered Vonage from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 1st. Dougherty & Co reiterated a “buy” rating and set a $19.00 target price on shares of Vonage in a research note on Thursday, November 29th. Finally, Zacks Investment Research cut Vonage from a “hold” rating to a “sell” rating in a report on Saturday, January 5th.
In other news, Director Jeffrey A. Citron sold 233,332 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $13.67, for a total value of $3,189,648.44. Following the completion of the transaction, the director now owns 9,053,862 shares of the company’s stock, valued at $123,766,293.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey A. Citron sold 83,334 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $8.95, for a total transaction of $745,839.30. Following the transaction, the director now directly owns 8,558,801 shares of the company’s stock, valued at approximately $76,601,268.95. The disclosure for this sale can be found here. Insiders have sold a total of 2,166,662 shares of company stock worth $24,253,616 over the last quarter. 8.70% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Moody Aldrich Partners LLC acquired a new position in Vonage during the 2nd quarter valued at about $2,329,000. Essex Investment Management Co. LLC bought a new position in shares of Vonage in the third quarter valued at approximately $1,466,000. Bessemer Group Inc. grew its stake in shares of Vonage by 6.5% in the third quarter. Bessemer Group Inc. now owns 148,500 shares of the technology company’s stock worth $2,103,000 after acquiring an additional 9,100 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in shares of Vonage by 0.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 3,690,621 shares of the technology company’s stock worth $52,259,000 after acquiring an additional 9,349 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Vonage by 30.8% during the third quarter. Renaissance Technologies LLC now owns 1,508,826 shares of the technology company’s stock worth $21,365,000 after buying an additional 355,226 shares in the last quarter. 85.05% of the stock is currently owned by institutional investors.
VG stock traded down $0.02 during mid-day trading on Friday, reaching $9.12. The company’s stock had a trading volume of 76,125 shares, compared to its average volume of 2,633,244. The company has a market cap of $2.20 billion, a P/E ratio of 32.54, a PEG ratio of 7.08 and a beta of 0.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.75. Vonage has a 12 month low of $7.91 and a 12 month high of $14.73.
Vonage (NYSE:VG) last announced its quarterly earnings data on Friday, November 2nd. The technology company reported $0.09 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.09. The firm had revenue of $261.53 million during the quarter, compared to analysts’ expectations of $263.91 million. Vonage had a positive return on equity of 17.66% and a negative net margin of 1.22%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share. On average, research analysts predict that Vonage will post 0.35 earnings per share for the current year.
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.
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