Stephens reaffirmed their buy rating on shares of Vonage (NYSE:VG) in a report issued on Monday morning, AnalystRatings.com reports.
VG has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Vonage from a hold rating to a sell rating in a report on Saturday, February 2nd. Guggenheim began coverage on shares of Vonage in a report on Monday, March 11th. They issued a neutral rating and a $10.00 price objective for the company. Needham & Company LLC reaffirmed a buy rating and issued a $15.00 price objective on shares of Vonage in a report on Monday, January 7th. Finally, Summit Insights reaffirmed a hold rating on shares of Vonage in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $14.50.
VG stock opened at $9.97 on Monday. Vonage has a twelve month low of $7.91 and a twelve month high of $14.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.63 and a quick ratio of 0.62. The company has a market cap of $2.42 billion, a PE ratio of 31.16, a P/E/G ratio of 10.89 and a beta of 0.60.
Vonage (NYSE:VG) last released its quarterly earnings results on Thursday, February 21st. The technology company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $273.80 million for the quarter, compared to analyst estimates of $274.64 million. Vonage had a return on equity of 15.33% and a net margin of 3.41%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. On average, analysts anticipate that Vonage will post 0.18 EPS for the current year.
In other Vonage news, insider Vinod Lala sold 2,867 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.29, for a total value of $29,501.43. Following the sale, the insider now directly owns 93,993 shares in the company, valued at $967,187.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey A. Citron sold 400,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $10.09, for a total value of $4,036,000.00. Following the completion of the sale, the director now owns 8,558,801 shares in the company, valued at $86,358,302.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,098,045 shares of company stock valued at $10,923,810. 8.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of VG. Norges Bank bought a new stake in Vonage in the fourth quarter valued at $31,218,000. Rice Hall James & Associates LLC bought a new stake in Vonage in the first quarter valued at $20,129,000. Marshall Wace LLP lifted its stake in Vonage by 2,793.8% in the third quarter. Marshall Wace LLP now owns 1,308,598 shares of the technology company’s stock valued at $18,530,000 after buying an additional 1,263,378 shares during the last quarter. Deutsche Bank AG lifted its stake in Vonage by 118.6% in the fourth quarter. Deutsche Bank AG now owns 1,649,567 shares of the technology company’s stock valued at $14,398,000 after buying an additional 895,110 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Vonage by 2.4% in the fourth quarter. BlackRock Inc. now owns 32,275,483 shares of the technology company’s stock valued at $281,766,000 after buying an additional 756,455 shares during the last quarter. Institutional investors own 85.86% of the company’s stock.
Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based Unified Communications as a Service solutions, such as integrated voice, text, video, data, collaboration, contact center, and mobile applications through flexible, scalable Session Initiation protocol based VoIP network; Communications Platform as a Service solutions to developers designed to enhance the businesses communicate with customers by embedding communications into apps, Websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.
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