Zacks Investment Research cut shares of Vonage Holdings Corp. (NYSE:VG) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Vonage is redefining communications by offering consumers and small businesses an affordable alternative to traditional telephone service. The fastest growing telephony company in North America, Vonage’s service area encompasses more than 2000 active rate centers in over 130 global markets. Vonage is sold directly through their website and retail partners such as SAM’s Club, Amazon.com, RadioShack, Best Buy, Circuit City, Staples, Fry’s Electronics and Office Depot. Wholesale partners such as EarthLink, ARMSTRONG(R), Advanced Cable Communications and the Coldwater Board of Public Utilities resell the Vonage broadband phone service under their own unique brands. With more than 300,000 lines in service, Vonage continues to add more than 30,000 lines per month to its network. Over 10 million calls per week are made using Vonage, the easy-to-use, feature-rich, flat rate phone service. “

Several other research analysts have also recently commented on the company. Northland Securities reissued a buy rating and set a $9.50 price target on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. Robert W. Baird reissued a buy rating and set a $9.00 price target on shares of Vonage Holdings Corp. in a research report on Friday, September 1st. Citigroup Inc. reissued a buy rating and set a $9.75 price target on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. Dougherty & Co reduced their price target on Vonage Holdings Corp. from $10.50 to $8.50 and set a buy rating for the company in a research report on Friday, August 4th. Finally, Needham & Company LLC reissued a buy rating and set a $9.50 price target on shares of Vonage Holdings Corp. in a research report on Wednesday, September 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $9.72.

Vonage Holdings Corp. (VG) opened at $9.13 on Tuesday. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $9.20. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2,080.00, a P/E ratio of 41.09, a P/E/G ratio of 6.57 and a beta of -0.14.

Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Vonage Holdings Corp. had a return on equity of 11.47% and a net margin of 2.14%. The firm had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. equities analysts predict that Vonage Holdings Corp. will post 0.28 EPS for the current fiscal year.

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In other news, CFO David T. Pearson sold 198,350 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the transaction, the chief financial officer now owns 216,119 shares in the company, valued at $1,744,080.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the transaction, the director now owns 12,670,751 shares in the company, valued at approximately $101,239,300.49. The disclosure for this sale can be found here. Insiders sold 1,719,695 shares of company stock worth $14,389,663 in the last 90 days. Corporate insiders own 14.05% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Vonage Holdings Corp. by 2.2% during the second quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock worth $131,960,000 after purchasing an additional 437,370 shares during the period. BlackRock Inc. increased its stake in shares of Vonage Holdings Corp. by 36,952.8% during the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after purchasing an additional 15,711,217 shares during the period. Alliancebernstein L.P. increased its stake in shares of Vonage Holdings Corp. by 0.3% during the second quarter. Alliancebernstein L.P. now owns 9,899,093 shares of the technology company’s stock worth $64,740,000 after purchasing an additional 32,532 shares during the period. Cramer Rosenthal Mcglynn LLC increased its stake in shares of Vonage Holdings Corp. by 6.0% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 7,596,028 shares of the technology company’s stock worth $49,678,000 after purchasing an additional 427,218 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Vonage Holdings Corp. by 12.2% during the second quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock worth $46,960,000 after purchasing an additional 780,436 shares during the period. Institutional investors own 80.53% 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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