Vonage Holdings Corp. (NYSE:VG)‘s stock had its “buy” rating restated by research analysts at Craig Hallum in a report released on Tuesday. They presently have a $11.00 target price on the technology company’s stock, up from their prior target price of $10.00. Craig Hallum’s price target indicates a potential upside of 35.14% from the company’s previous close.

A number of other research firms also recently issued reports on VG. Northland Securities restated a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a report on Tuesday, September 5th. BidaskClub upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Robert W. Baird restated a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, October 20th. Citigroup Inc. restated a “buy” rating and issued a $9.75 price objective on shares of Vonage Holdings Corp. in a report on Wednesday, September 13th. Finally, FBN Securities cut shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price target for the company. in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.42.

Vonage Holdings Corp. (VG) traded up $0.11 during mid-day trading on Tuesday, reaching $8.14. 1,970,345 shares of the company traded hands, compared to its average volume of 1,410,000. The firm has a market capitalization of $1,930.00, a price-to-earnings ratio of 34.91, a PEG ratio of 5.79 and a beta of -0.14. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 0.61. Vonage Holdings Corp. has a 52 week low of $5.74 and a 52 week high of $8.94.

Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $253.10 million for the quarter, compared to analyst estimates of $249.02 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. research analysts predict that Vonage Holdings Corp. will post 0.28 EPS for the current year.

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In related news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $8.12, for a total value of $3,369,093.56. Following the transaction, the director now owns 12,676,047 shares in the company, valued at $102,929,501.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the completion of the transaction, the director now owns 12,676,047 shares in the company, valued at approximately $103,309,783.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,581,392 shares of company stock worth $12,777,047. 14.05% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. World Asset Management Inc purchased a new stake in shares of Vonage Holdings Corp. during the third quarter valued at approximately $112,000. Bayesian Capital Management LP acquired a new position in Vonage Holdings Corp. in the second quarter worth $118,000. Karp Capital Management Corp acquired a new position in Vonage Holdings Corp. in the first quarter worth $126,000. Eqis Capital Management Inc. boosted its holdings in Vonage Holdings Corp. by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after purchasing an additional 813 shares during the period. Finally, Quantitative Systematic Strategies LLC lifted its stake in Vonage Holdings Corp. by 19.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock valued at $131,000 after buying an additional 3,136 shares during the last quarter. Institutional investors own 78.66% of the company’s stock.

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)

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