Vonage Holdings Corp. (NYSE:VG)‘s stock had its “buy” rating reaffirmed by equities researchers at Northland Securities in a research report issued on Tuesday. They presently have a $9.50 target price on the technology company’s stock. Northland Securities’ target price indicates a potential upside of 17.72% from the stock’s previous close.

Several other research firms also recently commented on VG. FBN Securities downgraded Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a report on Thursday, August 10th. Robert W. Baird restated a “buy” rating and set a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, September 1st. BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Dougherty & Co decreased their price objective on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 4th. Finally, William Blair restated an “outperform” rating on shares of Vonage Holdings Corp. in a report on Wednesday, May 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.74.

Shares of Vonage Holdings Corp. (VG) opened at 8.07 on Tuesday. The company has a market capitalization of $1.83 billion, a PE ratio of 100.88 and a beta of -0.09. The stock has a 50 day moving average price of $7.65 and a 200-day moving average price of $6.80. Vonage Holdings Corp. has a 52 week low of $5.65 and a 52 week high of $8.50.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $252 million during the quarter, compared to the consensus estimate of $242.05 million. Vonage Holdings Corp. had a return on equity of 4.17% and a net margin of 1.92%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. Equities research analysts expect that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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In related news, CFO David T. Pearson sold 666,667 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $7.02, for a total transaction of $4,680,002.34. Following the completion of the sale, the chief financial officer now owns 948,241 shares in the company, valued at $6,656,651.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David T. Pearson sold 666,666 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $7.00, for a total value of $4,666,662.00. Following the sale, the chief financial officer now owns 948,241 shares of the company’s stock, 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 quarter. 14.05% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in VG. Dynamic Technology Lab Private Ltd bought a new position in Vonage Holdings Corp. in the 2nd quarter valued at $582,000. Verition Fund Management LLC bought a new position in Vonage Holdings Corp. in the 2nd quarter valued at $776,000. The Manufacturers Life Insurance Company grew its stake in Vonage Holdings Corp. by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 153,445 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 6,103 shares during the period. Cubist Systematic Strategies LLC grew its stake in Vonage Holdings Corp. by 278.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 137,594 shares of the technology company’s stock valued at $900,000 after purchasing an additional 101,194 shares during the period. Finally, Southpoint Capital Advisors LP bought a new position in Vonage Holdings Corp. in the 2nd quarter valued at $27,468,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

About Vonage Holdings Corp.

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)

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