Vonage Holdings Corp. (NYSE:VG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Robert W. Baird in a report released on Friday.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. boosted their target price on shares of Vonage Holdings Corp. from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price (up from $9.50) on shares of Vonage Holdings Corp. in a research note on Wednesday, November 8th. Citigroup Inc. reiterated a “buy” rating and set a $11.00 target price on shares of Vonage Holdings Corp. in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Finally, Craig Hallum reiterated a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Vonage Holdings Corp. in a research note on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $9.72.
Shares of Vonage Holdings Corp. (NYSE VG) traded up $0.04 on Friday, reaching $9.16. 1,551,800 shares of the company’s stock were exchanged, compared to its average volume of 2,563,646. The stock has a market cap of $2,080.00, a price-to-earnings ratio of 41.41, a PEG ratio of 6.39 and a beta of -0.14. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $9.20.
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In other news, Director Jeffrey A. Citron sold 138,303 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $103,309,783.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of the company’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 transaction, the director now directly owns 12,670,751 shares of the company’s stock, valued at approximately $101,239,300.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,719,695 shares of company stock valued at $14,389,663. Insiders own 14.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of VG. BlackRock Inc. boosted its holdings in Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after buying an additional 15,711,217 shares during the period. Southpoint Capital Advisors LP bought a new position in Vonage Holdings Corp. in the 2nd quarter worth $27,468,000. SQN Investors LP boosted its holdings in Vonage Holdings Corp. by 111.0% in the 2nd quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock worth $36,937,000 after buying an additional 2,970,716 shares during the period. Rubric Capital Management LP bought a new position in Vonage Holdings Corp. in the 2nd quarter worth $15,696,000. Finally, Vanguard Group Inc. boosted its holdings in Vonage Holdings Corp. by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock worth $124,757,000 after buying an additional 1,741,500 shares during the period. 80.53% of the stock is owned by institutional investors.
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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