Shares of Vonage Holdings Corp. (NYSE:VG) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.16.

VG has been the topic of a number of research reports. Northland Securities restated a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a report on Thursday, October 12th. Needham & Company LLC restated a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a report on Wednesday, September 27th. Citigroup Inc. restated a “buy” rating and issued a $9.75 price objective on shares of Vonage Holdings Corp. in a report on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, September 1st. Finally, BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th.

Shares of Vonage Holdings Corp. (NYSE VG) traded up 0.37% during midday trading on Wednesday, reaching $8.14. 1,117,903 shares of the company traded hands. The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $7.22. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $8.69. The firm has a market capitalization of $1.85 billion, a PE ratio of 101.75 and a beta of -0.11.

Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Vonage Holdings Corp. had a return on equity of 12.40% and a net margin of 2.00%. The firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $242.05 million. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.

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In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $8.11, for a total value of $3,364,944.43. Following the completion of the sale, the director now directly owns 12,670,751 shares of the company’s stock, valued at approximately $102,759,790.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, 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. Insiders sold a total of 1,028,176 shares of company stock valued at $8,280,784 over the last ninety days. Corporate insiders own 14.05% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Vonage Holdings Corp. in the 1st quarter worth $1,192,000. First Washington CORP acquired a new stake in shares of Vonage Holdings Corp. in the 2nd quarter worth $2,446,000. Pier Capital LLC acquired a new stake in shares of Vonage Holdings Corp. in the 2nd quarter worth $5,348,000. Federated Investors Inc. PA increased its stake in shares of Vonage Holdings Corp. by 13.9% in the 2nd quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock worth $13,109,000 after acquiring an additional 243,979 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after acquiring an additional 15,711,217 shares during the last quarter. 79.57% 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.

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

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