Today, Brokerages Set Vonage Holdings Corp. (VG) PT at $7.83

Today, Brokerages Set Vonage Holdings Corp. (VG) PT at $7.83

Shares of Vonage Holdings Corp. (NYSE:VG) have received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.83.

VG has been the subject of a number of research reports. Robert W. Baird initiated coverage on shares of Vonage Holdings Corp. in a research note on Tuesday, September 13th. They set an “outperform” rating and a $8.00 target price for the company. Dougherty & Co boosted their target price on shares of Vonage Holdings Corp. from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. William Blair reissued an “outperform” rating on shares of Vonage Holdings Corp. in a research note on Friday, September 23rd. Zacks Investment Research cut shares of Vonage Holdings Corp. from a “strong-buy” rating to a “hold” rating in a research note on Saturday, October 29th. Finally, Needham & Company LLC boosted their target price on shares of Vonage Holdings Corp. from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, September 26th.

Shares of Vonage Holdings Corp. (NYSE:VG) opened at 6.69 on Monday. Vonage Holdings Corp. has a 52-week low of $3.82 and a 52-week high of $7.57. The company has a 50-day moving average of $6.49 and a 200-day moving average of $5.83. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 74.33 and a beta of 0.35.

Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Wednesday, October 26th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The business earned $248.40 million during the quarter, compared to analysts’ expectations of $246.92 million. Vonage Holdings Corp. had a net margin of 2.27% and a return on equity of 17.99%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Equities research analysts anticipate that Vonage Holdings Corp. will post $0.33 EPS for the current year.

In related news, Director Jeffrey A. Citron sold 500,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $6.59, for a total transaction of $3,295,000.00. Following the transaction, the director now directly owns 12,651,039 shares in the company, valued at $83,370,347.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.59% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Vonage Holdings Corp. by 1.5% in the third quarter. Principal Financial Group Inc. now owns 25,615 shares of the company’s stock worth $169,000 after buying an additional 376 shares during the last quarter. D.A. Davidson & CO. raised its position in Vonage Holdings Corp. by 2.2% in the third quarter. D.A. Davidson & CO. now owns 32,620 shares of the company’s stock worth $215,000 after buying an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Vonage Holdings Corp. by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 54,728 shares of the company’s stock worth $334,000 after buying an additional 776 shares during the last quarter. Amalgamated Bank raised its position in Vonage Holdings Corp. by 4.4% in the second quarter. Amalgamated Bank now owns 20,782 shares of the company’s stock worth $117,000 after buying an additional 867 shares during the last quarter. Finally, American International Group Inc. raised its position in Vonage Holdings Corp. by 0.9% in the second quarter. American International Group Inc. now owns 110,021 shares of the company’s stock worth $671,000 after buying an additional 1,032 shares during the last quarter. Hedge funds and other institutional investors own 72.19% of the company’s stock.

Related posts

Leave a Comment