Vonage Holdings Corp. (VG) Rating Reiterated by Robert W. Baird
Several other equities research analysts also recently weighed in on VG. Zacks Investment Research raised Vonage Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, August 2nd. Dougherty & Co cut their price objective on Vonage Holdings Corp. from $10.50 to $8.50 and set a buy rating on the stock in a report on Friday, August 4th. BidaskClub raised Vonage Holdings Corp. from a hold rating to a buy rating in a report on Wednesday, August 9th. FBN Securities downgraded Vonage Holdings Corp. from an outperform rating to a sector perform rating and set a $8.70 price objective on the stock. in a report on Thursday, August 10th. Finally, Northland Securities reissued a buy rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a report on Tuesday, September 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Vonage Holdings Corp. presently has an average rating of Buy and an average price target of $9.72.
Shares of Vonage Holdings Corp. (NYSE VG) opened at $9.36 on Friday. The firm has a market capitalization of $2,087.77, a price-to-earnings ratio of 41.50, a price-to-earnings-growth ratio of 6.05 and a beta of -0.14. Vonage Holdings Corp. has a twelve month low of $5.74 and a twelve month high of $9.38. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51.
Vonage Holdings Corp. (NYSE:VG) last issued its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The firm had revenue of $253.10 million for the quarter, compared to the consensus estimate of $249.02 million. Vonage Holdings Corp. had a return on equity of 11.47% and a net margin of 2.14%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. equities research analysts expect that Vonage Holdings Corp. will post 0.3 earnings per share for the current year.
In related news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total transaction of $3,315,154.87. Following the completion of the transaction, the director now directly owns 12,670,751 shares of the company’s stock, valued at approximately $101,239,300.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David T. Pearson sold 198,350 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $8.07, for a total value of $1,600,684.50. Following the transaction, the chief financial officer now directly owns 216,119 shares of the company’s stock, valued at $1,744,080.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,719,695 shares of company stock valued at $14,389,663. 14.05% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in Vonage Holdings Corp. by 77.0% during the 3rd quarter. Sterling Capital Management LLC now owns 183,935 shares of the technology company’s stock worth $1,497,000 after purchasing an additional 80,000 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Vonage Holdings Corp. during the 3rd quarter worth $367,000. Jane Street Group LLC raised its position in Vonage Holdings Corp. by 451.6% during the 3rd quarter. Jane Street Group LLC now owns 70,741 shares of the technology company’s stock worth $576,000 after purchasing an additional 57,917 shares during the last quarter. Magnetar Financial LLC raised its position in Vonage Holdings Corp. by 4.4% during the 3rd quarter. Magnetar Financial LLC now owns 1,791,337 shares of the technology company’s stock worth $14,581,000 after purchasing an additional 75,837 shares during the last quarter. Finally, Nicholas Investment Partners LP raised its position in Vonage Holdings Corp. by 40.5% during the 3rd quarter. Nicholas Investment Partners LP now owns 422,724 shares of the technology company’s stock worth $3,441,000 after purchasing an additional 121,902 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.
About Vonage Holdings Corp.
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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