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.
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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.
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