Vonage (NYSE:VG) had its target price lifted by Needham & Company LLC from $10.00 to $12.00 in a research note published on Monday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Citigroup reiterated a buy rating and issued a $11.00 price target on shares of Vonage in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Craig Hallum reiterated a buy rating and issued a $11.00 price target (up from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Robert W. Baird reiterated a buy rating and issued a $9.00 price target on shares of Vonage in a research report on Friday, October 20th. Northland Securities reissued a buy rating and issued a $9.50 price objective on shares of Vonage in a research note on Thursday, October 12th. Finally, Zacks Investment Research raised shares of Vonage from a hold rating to a buy rating and set a $9.75 price objective on the stock in a research note on Saturday, November 11th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Vonage currently has an average rating of Buy and an average price target of $9.94.

Shares of Vonage (NYSE VG) opened at $10.15 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. Vonage has a 1 year low of $5.74 and a 1 year high of $10.49. The firm has a market cap of $2,266.13, a P/E ratio of 45.04, a PEG ratio of 7.03 and a beta of -0.04.

Vonage (NYSE:VG) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The company had revenue of $253.10 million during the quarter, compared to the consensus estimate of $249.02 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. analysts predict that Vonage will post 0.28 EPS for the current year.

In other Vonage news, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the sale, the director now owns 12,676,047 shares of the company’s stock, valued at $102,929,501.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward M. Gilvar sold 17,778 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total transaction of $173,513.28. Following the sale, the insider now directly owns 29,199 shares in the company, valued at approximately $284,982.24. The disclosure for this sale can be found here. Insiders sold 1,539,123 shares of company stock worth $12,962,492 over the last three months. 14.05% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. World Asset Management Inc bought a new stake in shares of Vonage in the third quarter worth $112,000. Bayesian Capital Management LP bought a new stake in shares of Vonage in the second quarter worth $118,000. Aperio Group LLC grew its stake in shares of Vonage by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after purchasing an additional 433 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Vonage in the third quarter worth $148,000. Finally, SG Americas Securities LLC grew its stake in shares of Vonage by 108.4% in the second quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock worth $160,000 after purchasing an additional 12,701 shares during the last quarter. 84.01% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Needham & Company LLC Raises Vonage (VG) Price Target to $12.00” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/12/14/needham-company-llc-raises-vonage-vg-price-target-to-12-00.html.

About Vonage

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 (NYSE:VG)

Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.