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.
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