Vonage Holdings Corp. (VG) Trading Down 2.3%
Shares of Vonage Holdings Corp. (NYSE:VG) traded down 2.3% during mid-day trading on Thursday . The stock traded as low as $5.60 and last traded at $5.60, with a volume of 945,982 shares changing hands. The stock had previously closed at $5.73.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Dougherty & Co upped their price target on shares of Vonage Holdings Corp. from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. upped their price objective on shares of Vonage Holdings Corp. from $6.50 to $7.00 and gave the company an “outperform” rating in a research note on Wednesday, August 3rd. William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Wednesday, August 3rd. Finally, FBN Securities reissued an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Tuesday, August 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Vonage Holdings Corp. currently has a consensus rating of “Buy” and an average price target of $7.19.
The company has a market cap of $1.22 billion and a P/E ratio of 79.30. The firm has a 50-day moving average price of $5.85 and a 200-day moving average price of $5.01.
Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. During the same period in the previous year, the business posted $0.09 EPS. The company had revenue of $234 million for the quarter, compared to analyst estimates of $226.48 million. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Vonage Holdings Corp. will post $0.28 EPS for the current year.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 101,640 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $6.04, for a total transaction of $613,905.60. Following the transaction, the director now owns 12,644,516 shares of the company’s stock, valued at approximately $76,372,876.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan Masarek bought 126,460 shares of the 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 purchase, the chief executive officer now owns 145,686 shares in the company, valued at approximately $569,632.26. The disclosure for this purchase can be found here.
A number of institutional investors recently added to or reduced their stakes in VG. Nationwide Fund Advisors boosted 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 valued at $1,128,000 after buying an additional 2,770 shares during the last quarter. Rhumbline Advisers boosted 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 valued at $1,477,000 after buying an additional 9,325 shares during the last quarter. Redwood Investments LLC bought a new position in Vonage Holdings Corp. during the fourth quarter valued at approximately $1,724,000. New York State Common Retirement Fund boosted its position in Vonage Holdings Corp. by 30.5% in the fourth quarter. New York State Common Retirement Fund now owns 325,529 shares of the company’s stock valued at $1,869,000 after buying an additional 76,102 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new position in Vonage Holdings Corp. during the fourth quarter valued at approximately $2,803,000.
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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