Vonage Holdings Corp.’s (VG) Buy Rating Reiterated at Craig Hallum
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.
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