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.

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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.

Vonage (NYSE:VG) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $254.00 million during the quarter, compared to analysts’ expectations of $254.19 million. Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. equities research analysts expect that Vonage will post 0.36 earnings per share for the current fiscal year.

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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About Vonage

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 (NYSE:VG)

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