Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Vonage (VG) Share Price
News coverage about Vonage (NYSE:VG) has trended somewhat positive on Saturday, Accern Sentiment reports. The research firm identifies negative and positive news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Vonage earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave media headlines about the technology company an impact score of 44.9544406159196 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
A number of brokerages recently commented on VG. William Blair restated a “buy” rating on shares of Vonage in a research report on Wednesday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Vonage in a research report on Wednesday, August 1st. Citigroup raised their price objective on shares of Vonage to $16.00 and gave the company a “buy” rating in a research report on Monday, July 16th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Vonage from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $12.36.
Shares of NYSE:VG opened at $14.24 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.70 and a quick ratio of 0.69. The stock has a market capitalization of $3.38 billion, a P/E ratio of 41.59, a PEG ratio of 7.61 and a beta of -0.08. Vonage has a 52 week low of $7.62 and a 52 week high of $14.61.
In other news, SVP Valerie Kahn sold 2,192 shares of Vonage stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $12.00, for a total transaction of $26,304.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan Masarek sold 166,666 shares of Vonage stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $14.39, for a total transaction of $2,398,323.74. Following the sale, the chief executive officer now owns 495,189 shares of the company’s stock, valued at $7,125,769.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,607,754 shares of company stock valued at $22,042,134. 8.70% of the stock is owned by insiders.
Vonage Company Profile
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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