Vonage Holdings Corp. (VG) Given Consensus Recommendation of “Buy” by Analysts
Shares of Vonage Holdings Corp. (NYSE:VG) have earned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.41.
VG has been the topic of several recent analyst reports. Robert W. Baird reissued a “buy” rating and set a $11.00 price objective on shares of Vonage in a research note on Wednesday, January 3rd. ValuEngine raised shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Saturday, January 6th. Needham & Company LLC upped their price objective on shares of Vonage from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Summit Redstone reissued a “hold” rating on shares of Vonage in a research note on Friday, February 9th.
Shares of Vonage (NYSE:VG) traded up $0.09 during midday trading on Friday, hitting $11.06. 559,457 shares of the company’s stock traded hands, compared to its average volume of 1,922,433. Vonage has a 12 month low of $5.98 and a 12 month high of $11.65. The stock has a market capitalization of $2,501.66, a P/E ratio of 40.52, a PEG ratio of 6.01 and a beta of 0.09. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.45.
In other news, Director Jeffrey A. Citron sold 238,303 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total value of $2,399,711.21. Following the completion of the sale, the director now owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan Masarek sold 165,804 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $10.29, for a total transaction of $1,706,123.16. Following the completion of the sale, the chief executive officer now directly owns 983,423 shares of the company’s stock, valued at approximately $10,119,422.67. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 100,000 shares of company stock valued at $21,330 and have sold 2,228,591 shares valued at $23,400,007. Corporate insiders own 14.05% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Vonage by 87.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock valued at $100,000 after purchasing an additional 4,569 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Vonage by 83.5% during the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after purchasing an additional 5,683 shares in the last quarter. Bank of Montreal Can grew its holdings in Vonage by 103.4% during the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock valued at $131,000 after purchasing an additional 6,581 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Vonage during the 4th quarter valued at $142,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Vonage during the 4th quarter valued at $146,000. 86.26% of the stock is owned by institutional investors.
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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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