Shares of Vonage Holdings Corp. (NYSE:VG) saw strong trading volume on Thursday . 3,503,824 shares changed hands during trading, an increase of 20% from the previous session’s volume of 2,914,752 shares.The stock last traded at $5.98 and had previously closed at $6.03.

Several equities analysts have recently issued reports on VG shares. Summit Redstone reaffirmed a “hold” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, July 6th. Citigroup Inc. reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Vonage Holdings Corp. in a research note on Thursday, June 30th. Needham & Company LLC lifted their price objective on shares of Vonage Holdings Corp. from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, June 28th. William Blair reaffirmed a “buy” rating on shares of Vonage Holdings Corp. in a research note on Sunday, June 26th. Finally, TheStreet raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $7.01.

The company has a 50 day moving average of $5.35 and a 200-day moving average of $4.93. The company has a market capitalization of $1.26 billion and a price-to-earnings ratio of 54.72.

Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $226.82 million for the quarter, compared to analyst estimates of $227.04 million. During the same quarter last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that Vonage Holdings Corp. will post $0.30 EPS for the current year.

In other Vonage Holdings Corp. news, CEO Alan Masarek bought 126,460 shares of the business’s stock in a transaction on Friday, May 13th. The shares were bought at an average cost of $3.91 per share, for a total transaction of $494,458.60. Following the transaction, the chief executive officer now owns 145,686 shares in the company, valued at approximately $569,632.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mcgonigal Graham sold 150,994 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $5.29, for a total transaction of $798,758.26. Following the transaction, the insider now owns 152,023 shares in the company, valued at $804,201.67. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Vonage Holdings Corp. by 3.8% in the fourth quarter. Rhumbline Advisers now owns 257,394 shares of the company’s stock worth $1,477,000 after buying an additional 9,325 shares during the last quarter. California State Teachers Retirement System increased its position in Vonage Holdings Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 344,094 shares of the company’s stock worth $1,975,000 after buying an additional 5,519 shares during the last quarter. Nationwide Fund Advisors increased its position in Vonage Holdings Corp. by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 196,521 shares of the company’s stock worth $1,128,000 after buying an additional 2,770 shares during the last quarter. Redwood Investments LLC acquired a new position in Vonage Holdings Corp. during the fourth quarter worth about $1,724,000. Finally, Cornerstone Capital Management Holdings LLC. increased its position in Vonage Holdings Corp. by 5.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 963,864 shares of the company’s stock worth $5,533,000 after buying an additional 48,364 shares during the last quarter.

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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