Vonage Holdings Corp. (NYSE:VG) was downgraded by research analysts at FBN Securities from an “outperform” rating to a “sector perform” rating in a report issued on Thursday, The Fly reports.

VG has been the topic of a number of other reports. Zacks Investment Research raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, April 19th. William Blair reissued a “buy” rating on shares of Vonage Holdings Corp. in a research note on Thursday, May 4th. Dougherty & Co reduced their price target on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research note on Friday, August 4th. Finally, BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.31.

Shares of Vonage Holdings Corp. (VG) traded down 2.672% during trading on Thursday, reaching $8.195. 2,000,341 shares of the company’s stock were exchanged. The stock has a market cap of $1.86 billion, a P/E ratio of 102.438 and a beta of -0.01. The company has a 50 day moving average of $6.76 and a 200 day moving average of $6.62. Vonage Holdings Corp. has a 12-month low of $5.43 and a 12-month high of $8.50.

Vonage Holdings Corp. (NYSE:VG) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $252 million for the quarter, compared to the consensus estimate of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. Vonage Holdings Corp.’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. Equities research analysts anticipate that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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In related news, CFO David T. Pearson sold 666,667 shares of Vonage Holdings Corp. stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $7.02, for a total value of $4,680,002.34. Following the completion of the transaction, the chief financial officer now owns 948,241 shares in the company, valued at $6,656,651.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David T. Pearson sold 2,000,000 shares of Vonage Holdings Corp. stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $7.00, for a total transaction of $14,000,000.00. Following the completion of the transaction, the chief financial officer now owns 948,241 shares of the company’s stock, valued at approximately $6,637,687. The disclosure for this sale can be found here. Insiders sold 4,024,852 shares of company stock valued at $27,972,927 in the last 90 days. Company insiders own 14.05% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in 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. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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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Analyst Recommendations for Vonage Holdings Corp. (NYSE:VG)

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