Vonage Holdings Corp. (VG) Rating Reiterated by Northland Securities

Vonage Holdings Corp. (NYSE:VG)‘s stock had its “buy” rating reiterated by stock analysts at Northland Securities in a research note issued to investors on Thursday. They presently have a $9.50 price objective on the technology company’s stock. Northland Securities’ price objective would indicate a potential upside of 14.87% from the company’s current price.

A number of other analysts have also recently issued reports on the stock. Robert W. Baird reiterated a “buy” rating and issued a $9.00 target price on shares of Vonage Holdings Corp. in a research note on Friday, September 1st. Citigroup Inc. reiterated a “buy” rating and issued a $9.75 target price on shares of Vonage Holdings Corp. in a research note on Wednesday, September 13th. Zacks Investment Research cut shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Dougherty & Co reduced their target price on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research note on Friday, August 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.16.

Shares of Vonage Holdings Corp. (NYSE:VG) traded up 0.98% during trading on Thursday, hitting $8.27. 1,015,603 shares of the stock were exchanged. The stock’s 50 day moving average is $8.14 and its 200-day moving average is $7.17. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $8.69. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 103.38 and a beta of -0.11.

Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. Equities research analysts anticipate that Vonage Holdings Corp. will post $0.27 EPS for the current year.

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In other news, CFO David T. Pearson sold 198,350 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were 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 in the company, valued at $1,744,080.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total transaction of $3,315,154.87. Following the completion of the sale, the director now owns 12,670,751 shares of the company’s stock, valued at $101,239,300.49. The disclosure for this sale can be found here. Insiders sold 1,028,176 shares of company stock valued at $8,280,784 over the last 90 days. 14.05% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Vonage Holdings Corp. in the second quarter worth $582,000. Verition Fund Management LLC acquired a new stake in shares of Vonage Holdings Corp. in the second quarter worth $776,000. The Manufacturers Life Insurance Company lifted its stake in shares of Vonage Holdings Corp. by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 153,445 shares of the technology company’s stock worth $1,004,000 after buying an additional 6,103 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Vonage Holdings Corp. by 278.0% in the second quarter. Cubist Systematic Strategies LLC now owns 137,594 shares of the technology company’s stock worth $900,000 after buying an additional 101,194 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of Vonage Holdings Corp. in the second quarter worth $27,468,000. Institutional investors and hedge funds own 79.57% of the company’s stock.

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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