Vonage (NYSE:VG)‘s stock had its “hold” rating restated by investment analysts at Summit Redstone in a report released on Friday.

A number of other research analysts have also recently commented on VG. Zacks Investment Research upgraded shares of Vonage from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Saturday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target (up from $9.50) on shares of Vonage in a research report on Wednesday, November 8th. Craig Hallum reiterated a “buy” rating and set a $11.00 price target (up from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Oppenheimer increased their price target on shares of Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Finally, Northland Securities reissued a “buy” rating and set a $9.50 price objective on shares of Vonage in a research note on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $10.30.

Vonage (NYSE:VG) opened at $10.79 on Friday. Vonage has a 52-week low of $5.74 and a 52-week high of $11.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. The company has a market cap of $2,403.33, a P/E ratio of 134.89, a price-to-earnings-growth ratio of 6.18 and a beta of -0.04.

In other news, Director Jeffrey A. Citron sold 514,913 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the completion of the sale, the director now owns 10,680,286 shares of the company’s stock, valued at $110,754,565.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Citron sold 414,916 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $10.18, for a total value of $4,223,844.88. Following the sale, the director now directly owns 10,676,047 shares of the company’s stock, valued at approximately $108,682,158.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,739,126 shares of company stock valued at $17,285,774. Insiders own 14.05% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. lifted its stake in Vonage by 2.6% in the second quarter. Suntrust Banks Inc. now owns 31,971 shares of the technology company’s stock worth $209,000 after acquiring an additional 807 shares during the period. Amalgamated Bank lifted its stake in Vonage by 11.7% in the second quarter. Amalgamated Bank now owns 26,757 shares of the technology company’s stock worth $175,000 after acquiring an additional 2,805 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Vonage by 87.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after acquiring an additional 4,569 shares during the period. American International Group Inc. lifted its stake in Vonage by 3.0% in the fourth quarter. American International Group Inc. now owns 163,914 shares of the technology company’s stock worth $1,667,000 after acquiring an additional 4,803 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Vonage by 3.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 155,658 shares of the technology company’s stock worth $1,584,000 after acquiring an additional 5,251 shares during the period. 83.97% of the stock is owned by hedge funds and other 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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