Vonage (NYSE:VG) Receives “Buy” Rating from Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Vonage (NYSE:VG) in a report published on Friday, November 17th.

A number of other equities research analysts have also commented on VG. Zacks Investment Research upgraded Vonage from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Dougherty & Co reduced their price objective on Vonage from $10.50 to $8.50 and set a buy rating on the stock in a report on Friday, August 4th. BidaskClub raised Vonage from a hold rating to a buy rating in a report on Wednesday, August 9th. FBN Securities downgraded Vonage from an outperform rating to a sector perform rating and set a $8.70 price objective on the stock. in a report on Thursday, August 10th. Finally, Northland Securities reaffirmed a buy rating and set a $9.50 price objective on shares of Vonage in a report on Tuesday, September 5th. Two 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 an average target price of $9.72.

Shares of Vonage (NYSE:VG) opened at $10.16 on Friday. Vonage has a 12 month low of $5.74 and a 12 month high of $10.49. The firm has a market capitalization of $2,359.89, a P/E ratio of 46.91, a PEG ratio of 7.32 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.

Vonage (NYSE:VG) last released its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $253.10 million for the quarter, compared to analyst estimates of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. sell-side analysts predict that Vonage will post 0.28 earnings per share for the current year.

In other news, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the completion of the transaction, the director now owns 12,670,751 shares in the company, valued at approximately $101,239,300.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward M. Gilvar sold 17,778 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total value of $173,513.28. Following the completion of the transaction, the insider now owns 29,199 shares of the company’s stock, valued at approximately $284,982.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,539,123 shares of company stock worth $12,962,492 in the last ninety days. 14.05% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. World Asset Management Inc bought a new position in Vonage during the third quarter worth about $112,000. Bayesian Capital Management LP bought a new position in Vonage during the second quarter worth about $118,000. CIBC Asset Management Inc bought a new position in Vonage during the third quarter worth about $148,000. Quantitative Systematic Strategies LLC grew its holdings in Vonage by 19.0% during the second quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock worth $131,000 after purchasing an additional 3,136 shares during the period. Finally, Eqis Capital Management Inc. grew its holdings in Vonage by 4.2% during the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after purchasing an additional 813 shares during the period. Institutional investors and hedge funds own 84.01% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2017/12/05/robert-w-baird-reiterates-buy-rating-for-vonage-holdings-corp-vg.html.

Vonage Company Profile

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 (NYSE:VG)

Receive News & Ratings for Vonage Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage Holdings Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply