Vonage Holdings Corp. (NYSE:VG)‘s stock had its “buy” rating restated by Robert W. Baird in a research report issued to clients and investors on Friday. They currently have a $9.00 target price on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 8.43% from the company’s current price.

VG has been the subject of a number of other research reports. Dougherty & Co cut their price objective on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. William Blair reaffirmed an “outperform” rating on shares of Vonage Holdings Corp. in a research report on Wednesday, May 24th. FBN Securities lowered shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a research report on Thursday, August 10th. Finally, BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $8.59.

Vonage Holdings Corp. (NYSE:VG) opened at 8.30 on Friday. Vonage Holdings Corp. has a 1-year low of $5.65 and a 1-year high of $8.50. The firm has a market capitalization of $1.89 billion, a P/E ratio of 103.75 and a beta of -0.01. The company has a 50-day moving average price of $7.47 and a 200-day moving average price of $6.76.

Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $252 million during the quarter, compared to analyst estimates of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 EPS. On average, equities research analysts predict that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/01/vonage-holdings-corp-vg-earns-buy-rating-from-robert-w-baird.html.

In related news, CFO David T. Pearson sold 198,350 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total value of $1,600,684.50. Following the sale, the chief financial officer now owns 216,119 shares of the company’s stock, valued at $1,744,080.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David T. Pearson sold 666,666 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $7.00, for a total transaction of $4,666,662.00. Following the completion of the sale, the chief financial officer now directly owns 948,241 shares in the company, valued at approximately $6,637,687. The disclosure for this sale can be found here. Insiders have sold 4,361,509 shares of company stock valued at $31,121,254 in the last ninety days. 14.05% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Vonage Holdings Corp. during the second quarter worth $582,000. Verition Fund Management LLC acquired a new stake in Vonage Holdings Corp. during the second quarter worth $776,000. The Manufacturers Life Insurance Company boosted its stake in Vonage Holdings Corp. by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 153,445 shares of the technology company’s stock worth $1,004,000 after buying an additional 6,103 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Vonage Holdings Corp. by 278.0% in the second quarter. Cubist Systematic Strategies LLC now owns 137,594 shares of the technology company’s stock worth $900,000 after buying an additional 101,194 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in Vonage Holdings Corp. during the second quarter worth $27,468,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.

Vonage Holdings Corp. Company Profile

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. 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.

Analyst Recommendations for Vonage Holdings Corp. (NYSE:VG)

Receive News & Stock Ratings for Vonage Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage Holdings Corp. and related stocks with our FREE daily email newsletter.