Vonage Holdings Corp. (NYSE:VG) rose 6.1% during mid-day trading on Monday . The company traded as high as $6.04 and last traded at $5.95, with a volume of 3,810,149 shares trading hands. The stock had previously closed at $5.61.

VG has been the topic of a number of recent research reports. Summit Redstone reissued a “hold” rating on shares of Vonage Holdings Corp. in a research report on Wednesday, July 6th. TheStreet raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 14th. Zacks Investment Research raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Tuesday, May 10th. FBN Securities reissued an “outperform” rating on shares of Vonage Holdings Corp. in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. raised Vonage Holdings Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the company from $4.75 to $8.00 in a research report on Tuesday, June 14th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $7.19.

The company has a 50-day moving average of $5.87 and a 200 day moving average of $5.03. The firm has a market capitalization of $1.28 billion and a P/E ratio of 83.52.

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. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts anticipate that Vonage Holdings Corp. will post $0.28 earnings per share for the current fiscal year.

In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 101,640 shares of the 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 transaction, the director now owns 12,644,516 shares in the company, valued at $76,372,876.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mcgonigal Graham sold 150,994 shares of the stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $5.29, for a total value of $798,758.26. Following the completion of the transaction, the insider now owns 152,023 shares in the company, valued at approximately $804,201.67. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in shares of 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 raised its position in shares of 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. California Public Employees Retirement System raised its position in shares of Vonage Holdings Corp. by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 662,000 shares of the company’s stock valued at $3,800,000 after buying an additional 100,600 shares during the last quarter. Redwood Investments LLC purchased a new position in shares of Vonage Holdings Corp. during the fourth quarter valued at about $1,724,000. Finally, Matarin Capital Management LLC purchased a new position in shares of Vonage Holdings Corp. during the fourth quarter valued at about $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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