Shares of Vonage Holdings Corp. (NYSE:VG) have been assigned an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.50.

Several research firms recently issued reports on VG. BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday. Dougherty & Co cut their price target on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 4th. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a report on Wednesday, May 24th.

Vonage Holdings Corp. (NYSE:VG) traded up 0.906% during midday trading on Friday, hitting $8.355. The stock had a trading volume of 5,528,472 shares. The stock has a 50 day moving average of $6.65 and a 200 day moving average of $6.60. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 136.967 and a beta of -0.01. Vonage Holdings Corp. has a 12 month low of $5.43 and a 12 month high of $8.47.

Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $252 million during the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. Analysts expect that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.

In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total value of $2,808,961.01. Following the completion of the transaction, the director now directly owns 12,664,157 shares of the company’s stock, valued at $85,736,342.89. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey A. Citron sold 276,606 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $6.57, for a total transaction of $1,817,301.42. Following the completion of the transaction, the director now directly owns 12,664,157 shares of the company’s stock, valued at $83,203,511.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,024,852 shares of company stock valued at $27,972,927. 14.05% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. boosted its position in shares of Vonage Holdings Corp. by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 41,750 shares of the technology company’s stock worth $264,000 after buying an additional 125 shares during the period. Aperio Group LLC boosted its position in shares of Vonage Holdings Corp. by 2.2% in the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after buying an additional 433 shares during the period. Suntrust Banks Inc. boosted its position in shares of Vonage Holdings Corp. by 2.4% in the first quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock worth $196,000 after buying an additional 718 shares during the period. Eqis Capital Management Inc. boosted its position in shares of Vonage Holdings Corp. by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after buying an additional 813 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Vonage Holdings Corp. by 1.3% in the first quarter. Sei Investments Co. now owns 109,026 shares of the technology company’s stock worth $689,000 after buying an additional 1,409 shares during the period. 76.82% of the stock is owned by institutional investors.

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Vonage Holdings Corp. Company Profile

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.

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