Vonage Holdings Corp.’s (VG) Buy Rating Reiterated at Robert W. Baird

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.

Vonage Holdings Corp. (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. Vonage Holdings Corp. had a net margin of 2.14% and a return on equity of 11.47%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. research analysts expect that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Vonage Holdings Corp. (NYSE:VG)

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