Vonage Holdings Corp. (VG) Receives $14.33 Average Price Target from Analysts

Vonage Holdings Corp. (NYSE:VG) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.33.

A number of equities research analysts recently commented on VG shares. Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target (up from $13.00) on shares of Vonage in a research report on Wednesday, August 1st. Finally, William Blair restated a “buy” rating on shares of Vonage in a research report on Wednesday, August 1st.

VG stock opened at $10.72 on Thursday. Vonage has a 1-year low of $9.57 and a 1-year high of $14.73. The company has a market capitalization of $2.57 billion, a PE ratio of 29.78, a P/E/G ratio of 6.21 and a beta of -0.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.75.

Vonage (NYSE:VG) last released its quarterly earnings data on Friday, November 2nd. The technology company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Vonage had a positive return on equity of 17.66% and a negative net margin of 1.22%. The company had revenue of $261.53 million for the quarter, compared to analyst estimates of $263.91 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Analysts forecast that Vonage will post 0.35 earnings per share for the current year.

In other Vonage news, Director Jeffrey A. Citron sold 233,332 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $14.43, for a total transaction of $3,366,980.76. Following the transaction, the director now owns 10,650,784 shares of the company’s stock, valued at approximately $153,690,813.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Citron sold 500,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $14.33, for a total value of $7,165,000.00. Following the transaction, the director now directly owns 10,650,784 shares in the company, valued at approximately $152,625,734.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,678,663 shares of company stock worth $23,403,616. 8.70% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System lifted its holdings in Vonage by 2.6% during the 2nd quarter. New York State Teachers Retirement System now owns 156,947 shares of the technology company’s stock worth $2,023,000 after buying an additional 3,974 shares in the last quarter. Marshall Wace LLP lifted its holdings in Vonage by 9.8% during the 2nd quarter. Marshall Wace LLP now owns 45,220 shares of the technology company’s stock worth $583,000 after buying an additional 4,032 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in Vonage by 7.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 62,648 shares of the technology company’s stock worth $808,000 after buying an additional 4,302 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Vonage by 5.6% during the 2nd quarter. D.A. Davidson & CO. now owns 82,182 shares of the technology company’s stock worth $1,059,000 after buying an additional 4,377 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Vonage by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 319,044 shares of the technology company’s stock worth $4,518,000 after buying an additional 4,458 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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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