Vonage (VG) Reaches New 52-Week High at $11.25
Vonage Holdings Corp. (NYSE:VG) hit a new 52-week high during trading on Tuesday . The stock traded as high as $11.25 and last traded at $11.23, with a volume of 1247805 shares traded. The stock had previously closed at $11.15.
VG has been the topic of several research analyst reports. Zacks Investment Research raised Vonage from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Saturday, November 11th. Citigroup reissued a “buy” rating and set a $11.00 price target on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Craig Hallum reissued a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. Robert W. Baird reissued a “buy” rating and set a $9.00 price target on shares of Vonage in a research note on Friday, October 20th. Finally, Needham & Company LLC boosted their price target on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $10.30.
The stock has a market cap of $2,549.69, a P/E ratio of 139.89, a P/E/G ratio of 6.56 and a beta of -0.05. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51.
In related news, Director Jeffrey A. Citron sold 238,303 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total value of $2,399,711.21. Following the sale, the director now owns 10,680,286 shares of the company’s stock, valued at approximately $107,550,480.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey A. Citron sold 514,913 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $10.37, for a total value of $5,339,647.81. Following the completion of the sale, the director now directly owns 10,680,286 shares in the company, valued at approximately $110,754,565.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,877,429 shares of company stock worth $18,516,671. 14.05% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of VG. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Vonage by 87.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares during the period. World Asset Management Inc purchased a new position in shares of Vonage during the 3rd quarter worth $112,000. Bayesian Capital Management LP purchased a new position in shares of Vonage during the 2nd quarter worth $118,000. Bank of Montreal Can increased its holdings in shares of Vonage by 103.4% during the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after buying an additional 6,581 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Vonage during the 3rd quarter worth $148,000. 83.92% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Vonage (VG) Reaches New 52-Week High at $11.25” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2018/02/01/vonage-vg-reaches-new-52-week-high-at-11-25.html.
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.
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.