Vonage Holdings Corp. (NYSE:VG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.43 and last traded at $11.46, with a volume of 1103826 shares traded. The stock had previously closed at $11.19.
VG has been the topic of a number of recent analyst reports. Craig Hallum restated a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Citigroup reaffirmed a “buy” rating and set a $11.00 price target on shares of Vonage in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target (up previously from $9.50) on shares of Vonage in a research report on Wednesday, November 8th. Oppenheimer raised their price target on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research raised Vonage from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research report on Saturday, November 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Vonage currently has an average rating of “Buy” and a consensus price target of $10.30.
The stock has a market capitalization of $2,558.83, a PE ratio of 50.86, a P/E/G ratio of 6.52 and a beta of -0.04. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51.
A number of institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Vonage by 87.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Vonage by 83.5% during the 4th quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after purchasing an additional 5,683 shares during the last quarter. Bank of Montreal Can increased its position in shares of Vonage by 103.4% during the 4th quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after purchasing an additional 6,581 shares during the last quarter. World Asset Management Inc acquired a new position in shares of Vonage during the 3rd quarter worth approximately $112,000. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of Vonage during the 4th quarter worth approximately $142,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.
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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