Vonage Holdings Corp. (VG) Receives $7.83 Average PT from Analysts
Vonage Holdings Corp. (NYSE:VG) has earned an average rating of “Buy” from the eleven ratings firms that are covering the firm. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.83.
Several analysts recently weighed in on the company. FBN Securities reissued an “outperform” rating on shares of Vonage Holdings Corp. in a report on Tuesday, August 2nd. Dougherty & Co boosted their price objective on Vonage Holdings Corp. from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research downgraded Vonage Holdings Corp. from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 29th. William Blair restated an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Friday, September 23rd. Finally, Robert W. Baird began coverage on Vonage Holdings Corp. in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $8.00 target price for the company.
Vonage Holdings Corp. (NYSE:VG) opened at 6.71 on Monday. The company has a 50-day moving average price of $6.49 and a 200 day moving average price of $5.81. The stock has a market capitalization of $1.46 billion, a P/E ratio of 74.56 and a beta of 0.35. Vonage Holdings Corp. has a 1-year low of $3.82 and a 1-year high of $7.57.
Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The firm earned $248.40 million during the quarter, compared to analyst estimates of $246.92 million. Vonage Holdings Corp. had a return on equity of 17.99% and a net margin of 2.27%. Vonage Holdings Corp.’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. On average, equities analysts predict that Vonage Holdings Corp. will post $0.33 EPS for the current year.
In other news, Director Jeffrey A. Citron sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $6.21, for a total transaction of $3,105,000.00. Following the completion of the transaction, the director now directly owns 12,651,039 shares in the company, valued at $78,562,952.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 14.59% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Atria Investments LLC acquired a new position in shares of Vonage Holdings Corp. during the second quarter valued at about $108,000. Tower Research Capital LLC TRC increased its stake in Vonage Holdings Corp. by 102.3% in the third quarter. Tower Research Capital LLC TRC now owns 16,523 shares of the company’s stock worth $109,000 after buying an additional 8,356 shares during the period. MAI Capital Management increased its stake in Vonage Holdings Corp. by 21.0% in the second quarter. MAI Capital Management now owns 18,249 shares of the company’s stock worth $111,000 after buying an additional 3,172 shares during the period. Amalgamated Bank increased its stake in Vonage Holdings Corp. by 4.4% in the second quarter. Amalgamated Bank now owns 20,782 shares of the company’s stock worth $117,000 after buying an additional 867 shares during the period. Finally, Blair William & Co. IL increased its stake in Vonage Holdings Corp. by 42.3% in the second quarter. Blair William & Co. IL now owns 20,200 shares of the company’s stock worth $123,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 72.19% of the company’s stock.
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About Vonage Holdings Corp.
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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