Vonage (VG) Getting Somewhat Favorable News Coverage, Report Finds
News articles about Vonage (NYSE:VG) have trended somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Vonage earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 46.8844464730569 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment’s analysis:
- Vonage Target of Unusually Large Options Trading (VG) (americanbankingnews.com)
- Vonage Holdings Corp. (NYSE: VG) – In Play Stock Characteristics – Alpha Beta Stock (alphabetastock.com)
- Focus on Overbought Mover: Vonage Holdings Corp. (VG) – Wall Street Morning (wallstreetmorning.com)
- Brokerages Expect Vonage Holdings Corp. (VG) to Post $0.09 Earnings Per Share (americanbankingnews.com)
- DURECT Corporation, (NASDAQ: DRRX), Avid Technology, Inc., (NASDAQ: AVID), Vonage Holdings Corp., (NYSE … – Stocks In The News (press release) (tradingnewsnow.com)
Several research firms recently commented on VG. Robert W. Baird restated a “buy” rating on shares of Vonage in a research note on Friday, November 17th. Zacks Investment Research downgraded shares of Vonage from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Oppenheimer Holdings, Inc. upped their price target on shares of Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target (up from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. Finally, Citigroup Inc. restated a “buy” rating and issued a $11.00 price target on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.72.
Shares of Vonage (VG) remained flat at $$9.94 during trading on Friday. The stock had a trading volume of 714,310 shares, compared to its average volume of 1,860,092. The stock has a market capitalization of $2,272.99, a price-to-earnings ratio of 45.18, a P/E/G ratio of 7.05 and a beta of -0.14. 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 has a 1 year low of $5.74 and a 1 year high of $9.97.
Vonage (NYSE:VG) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $253.10 million for the quarter, compared to the consensus estimate of $249.02 million. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. analysts expect that Vonage will post 0.28 earnings per share for the current year.
In other Vonage news, Director Jeffrey A. Citron sold 414,913 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $9.03, for a total transaction of $3,746,664.39. Following the sale, the director now directly owns 11,676,047 shares in the company, valued at $105,434,704.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the completion of the sale, the director now owns 12,676,047 shares in the company, valued at $103,309,783.05. The disclosure for this sale can be found here. Insiders have sold 1,521,345 shares of company stock worth $12,788,979 over the last quarter. Corporate insiders own 14.05% of the company’s stock.
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Vonage Company Profile
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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