Shares of Vonage Holdings Corp. (NYSE:VG) reached a new 52-week high on Thursday . The company traded as high as $12.70 and last traded at $12.70, with a volume of 38592 shares. The stock had previously closed at $12.35.
A number of analysts have weighed in on the stock. William Blair reaffirmed a “buy” rating on shares of Vonage in a research note on Thursday. Zacks Investment Research raised shares of Vonage from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, May 10th. Finally, ValuEngine raised shares of Vonage from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $10.63.
The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 45.75, a price-to-earnings-growth ratio of 6.06 and a beta of 0.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.74.
Vonage (NYSE:VG) last posted its earnings results on Tuesday, May 8th. The technology company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Vonage had a negative net margin of 1.51% and a positive return on equity of 16.84%. The firm had revenue of $253.60 million for the quarter, compared to analysts’ expectations of $251.76 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. equities analysts predict that Vonage Holdings Corp. will post 0.41 earnings per share for the current fiscal year.
In related news, SVP Valerie Kahn sold 2,192 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $12.00, for a total value of $26,304.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jayesh Patel sold 2,400 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $11.39, for a total transaction of $27,336.00. Following the completion of the sale, the senior vice president now directly owns 8,748 shares in the company, valued at approximately $99,639.72. The disclosure for this sale can be found here. In the last three months, insiders sold 1,710,268 shares of company stock worth $19,329,679. 8.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in Vonage in the fourth quarter valued at $958,000. Meadow Creek Investment Management LLC lifted its holdings in Vonage by 21.1% in the fourth quarter. Meadow Creek Investment Management LLC now owns 34,170 shares of the technology company’s stock valued at $348,000 after buying an additional 5,950 shares during the period. Deutsche Bank AG lifted its holdings in Vonage by 69.8% in the fourth quarter. Deutsche Bank AG now owns 658,634 shares of the technology company’s stock valued at $6,697,000 after buying an additional 270,637 shares during the period. Guggenheim Capital LLC lifted its holdings in Vonage by 463.0% in the fourth quarter. Guggenheim Capital LLC now owns 120,023 shares of the technology company’s stock valued at $1,219,000 after buying an additional 98,703 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in Vonage by 17.5% in the fourth quarter. Gotham Asset Management LLC now owns 173,258 shares of the technology company’s stock valued at $1,762,000 after buying an additional 25,774 shares during the period. Institutional investors and hedge funds own 83.98% of the company’s stock.
Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.
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