Zacks Downgrades Vonage Holdings Corp. to Neutral (VG)
Vonage Holdings Corp. (NYSE:VG) was downgraded by Zacks to a “neutral” rating in a research note issued on Friday, StockRatingsNetwork reports. They currently have a $4.60 target price on the stock. Zacks‘ target price would indicate a potential upside of 4.07% from the company’s current price.
Vonage Holdings Corp. (NYSE:VG) traded down 2.03% on Friday, hitting $4.3301. The stock had a trading volume of 1,229,318 shares. Vonage Holdings Corp. has a one year low of $2.41 and a one year high of $4.84. The stock has a 50-day moving average of $3.41 and a 200-day moving average of $3.3. The company has a market cap of $892.9 million and a price-to-earnings ratio of 25.85.
Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.04. The company had revenue of $204.00 million for the quarter, compared to the consensus estimate of $213.81 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that Vonage Holdings Corp. will post $0.19 EPS for the current fiscal year.
A number of other firms have also recently commented on VG. Analysts at Craig Hallum initiated coverage on shares of Vonage Holdings Corp. in a research note to investors on Wednesday. They set a “buy” rating and a $7.00 price target on the stock. Analysts at National Alliance Securities initiated coverage on shares of Vonage Holdings Corp. in a research note to investors on Friday, November 15th. They set a “buy” rating and a $4.10 price target on the stock.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 400,000 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $4.13, for a total transaction of $1,652,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Vonage Holdings Corp. (NYSE:VG) is a provider of communications services connecting people through broadband devices worldwide.
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