Vonage Holdings Corp. (VG) Receives $12.25 Consensus PT from Analysts

Shares of Vonage Holdings Corp. (NYSE:VG) have earned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.25.

A number of equities research analysts have weighed in on VG shares. William Blair reiterated a “buy” rating on shares of Vonage in a research note on Thursday, June 28th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price (up from $13.00) on shares of Vonage in a research note on Wednesday, August 1st. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Finally, Citigroup upped their price objective on Vonage to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. They noted that the move was a valuation call.

In other news, Director Jeffrey A. Citron sold 233,332 shares of the company’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $13.19, for a total value of $3,077,649.08. Following the completion of the sale, the director now directly owns 12,250,784 shares in the company, valued at approximately $161,587,840.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 500,000 shares of the company’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $13.26, for a total value of $6,630,000.00. Following the completion of the sale, the director now owns 12,250,784 shares of the company’s stock, valued at $162,445,395.84. The disclosure for this sale can be found here. Insiders sold a total of 2,550,893 shares of company stock valued at $35,409,798 over the last 90 days. 8.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Pitcairn Co. bought a new position in shares of Vonage during the 1st quarter valued at about $108,000. Mount Yale Investment Advisors LLC bought a new position in shares of Vonage during the 1st quarter valued at about $129,000. Element Capital Management LLC bought a new position in shares of Vonage during the 1st quarter valued at about $136,000. Koch Industries Inc. bought a new position in shares of Vonage during the 1st quarter valued at about $141,000. Finally, Brown Advisory Inc. bought a new position in shares of Vonage during the 1st quarter valued at about $149,000. 84.92% of the stock is owned by institutional investors.

VG traded down $0.06 during mid-day trading on Wednesday, reaching $14.18. 8,688 shares of the company traded hands, compared to its average volume of 1,563,779. The firm has a market cap of $3.39 billion, a PE ratio of 50.64, a P/E/G ratio of 7.79 and a beta of -0.06. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.35. Vonage has a 52-week low of $7.85 and a 52-week high of $14.73.

Vonage (NYSE:VG) last announced its earnings results on Wednesday, August 1st. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $260.00 million during the quarter, compared to analyst estimates of $254.95 million. Vonage had a negative net margin of 1.14% and a positive return on equity of 16.92%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. As a group, research analysts forecast that Vonage will post 0.36 EPS for the current fiscal year.

About Vonage

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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Analyst Recommendations for Vonage (NYSE:VG)

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