Shares of Vonage Holdings Corp. (NYSE:VG) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $12.25 and last traded at $12.28, with a volume of 23949 shares changing hands. The stock had previously closed at $12.17.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, May 10th. ValuEngine upgraded shares of Vonage from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Robert W. Baird restated an “outperform” rating and issued a $12.00 price target (up previously from $11.00) on shares of Vonage in a research note on Thursday, February 22nd. Finally, William Blair restated a “buy” rating on shares of Vonage in a research note on Wednesday, May 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.63.
The company has a current ratio of 0.74, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.75 billion, a PE ratio of 44.39, a price-to-earnings-growth ratio of 5.62 and a beta of 0.06.
Vonage (NYSE:VG) last issued its quarterly earnings results on Tuesday, May 8th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $253.60 million during the quarter, compared to analyst estimates of $251.76 million. Vonage had a negative net margin of 1.51% and a positive return on equity of 16.84%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. sell-side analysts forecast that Vonage Holdings Corp. will post 0.41 earnings per share for the current fiscal year.
In other Vonage news, insider Vinod Lala sold 29,388 shares of Vonage stock in a transaction on Monday, March 19th. The shares were sold at an average price of $10.60, for a total value of $311,512.80. Following the completion of the transaction, the insider now owns 22,165 shares of the company’s stock, valued at $234,949. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alan Masarek sold 234,629 shares of Vonage stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $11.17, for a total transaction of $2,620,805.93. Following the completion of the transaction, the chief executive officer now directly owns 695,189 shares of the company’s stock, valued at approximately $7,765,261.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,258,612 shares of company stock valued at $25,257,479. Insiders own 8.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC boosted its holdings in Vonage by 11.3% in the first quarter. Aperio Group LLC now owns 44,104 shares of the technology company’s stock worth $470,000 after purchasing an additional 4,488 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Vonage by 87.5% in the fourth 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. Comerica Bank boosted its holdings in Vonage by 2.2% in the first quarter. Comerica Bank now owns 218,504 shares of the technology company’s stock worth $2,458,000 after purchasing an additional 4,694 shares during the period. American International Group Inc. boosted its holdings in Vonage by 3.0% in the fourth quarter. American International Group Inc. now owns 163,914 shares of the technology company’s stock worth $1,667,000 after purchasing an additional 4,803 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Vonage by 6.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 83,110 shares of the technology company’s stock worth $885,000 after purchasing an additional 5,250 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.
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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