Shares of Vonage Holdings Corp. (NYSE:VG) have earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.00.
VG has been the subject of a number of research reports. Stephens reiterated a “buy” rating on shares of Vonage in a report on Monday, April 29th. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Guggenheim initiated coverage on Vonage in a report on Monday, March 11th. They issued a “neutral” rating and a $10.00 price target for the company. Finally, Summit Insights reiterated a “hold” rating on shares of Vonage in a report on Thursday, April 4th.
In other Vonage news, Director Jeffrey A. Citron sold 250,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $11.43, for a total transaction of $2,857,500.00. Following the completion of the sale, the director now owns 8,702,829 shares in the company, valued at $99,473,335.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Vinod Lala sold 2,867 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.29, for a total value of $29,501.43. Following the sale, the insider now owns 93,993 shares of the company’s stock, valued at approximately $967,187.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,364,503 shares of company stock valued at $13,962,348. 7.41% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. purchased a new stake in Vonage during the first quarter worth $33,000. Quantamental Technologies LLC purchased a new stake in Vonage during the first quarter worth $52,000. PNC Financial Services Group Inc. lifted its holdings in Vonage by 15.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,244 shares of the technology company’s stock worth $83,000 after buying an additional 1,093 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in Vonage during the fourth quarter worth $84,000. Finally, Sciencast Management LP purchased a new stake in Vonage during the first quarter worth $107,000. Institutional investors own 84.33% of the company’s stock.
Shares of NYSE VG traded down $0.03 during trading hours on Thursday, reaching $11.52. The stock had a trading volume of 2,877,705 shares, compared to its average volume of 3,015,541. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 11.28 and a beta of 0.60. Vonage has a 52-week low of $7.91 and a 52-week high of $14.73.
Vonage (NYSE:VG) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $280.00 million during the quarter, compared to analyst estimates of $277.82 million. Vonage had a return on equity of 12.11% and a net margin of 0.99%. Vonage’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. Analysts forecast that Vonage will post 0.2 earnings per share for the current year.
Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.
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