Vonage Holdings Corp. (NYSE:VG)’s share price traded up 2.6% on Tuesday after Needham & Company raised their price target on the stock from $8.00 to $9.00. Needham & Company currently has a buy rating on the stock. Vonage Holdings Corp. traded as high as $6.65 and last traded at $6.64, with a volume of 1,275,991 shares changing hands. The stock had previously closed at $6.47.
A number of other equities analysts also recently commented on VG. William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a research report on Friday, September 23rd. Robert W. Baird initiated coverage on Vonage Holdings Corp. in a research report on Tuesday, September 13th. They set an “outperform” rating and a $8.00 price objective for the company. Dougherty & Co boosted their price objective on Vonage Holdings Corp. from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research raised Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. boosted their price objective on Vonage Holdings Corp. from $6.50 to $7.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $7.50.
In other news, insider Kurt Rogers sold 313,852 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $6.01, for a total transaction of $1,886,250.52. Following the completion of the sale, the insider now owns 434,118 shares in the company, valued at $2,609,049.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 101,640 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $6.04, for a total value of $613,905.60. Following the sale, the director now owns 12,644,516 shares of the company’s stock, valued at approximately $76,372,876.64. The disclosure for this sale can be found here. 14.59% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in VG. Zebra Capital Management LLC bought a new stake in Vonage Holdings Corp. during the first quarter valued at approximately $174,000. Menta Capital LLC boosted its stake in Vonage Holdings Corp. by 59.2% in the first quarter. Menta Capital LLC now owns 198,367 shares of the company’s stock valued at $907,000 after buying an additional 73,787 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Vonage Holdings Corp. during the first quarter valued at approximately $393,000. American Financial Group Inc. boosted its stake in Vonage Holdings Corp. by 18.6% in the first quarter. American Financial Group Inc. now owns 51,848 shares of the company’s stock valued at $237,000 after buying an additional 8,149 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in Vonage Holdings Corp. during the first quarter valued at approximately $251,000. Institutional investors and hedge funds own 73.59% of the company’s stock.
The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 93.52 and a beta of 1.05. The company has a 50 day moving average of $6.06 and a 200-day moving average of $5.26.
Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $234 million for the quarter, compared to the consensus estimate of $226.48 million. Vonage Holdings Corp. had a return on equity of 17.58% and a net margin of 1.71%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. On average, equities analysts forecast that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.
Vonage Holdings Corp. Company Profile
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. 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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