Vonage Holdings Corp. (VG) Receives Outperform Rating from William Blair
Vonage Holdings Corp. (NYSE:VG)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a report issued on Wednesday.
Separately, Zacks Investment Research cut shares of Vonage Holdings Corp. from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $8.13.
Vonage Holdings Corp. (NYSE:VG) traded up 0.73% during midday trading on Wednesday, hitting $6.91. 2,292,756 shares of the stock were exchanged. Vonage Holdings Corp. has a 1-year low of $4.35 and a 1-year high of $7.88. The company’s 50 day moving average is $6.54 and its 200-day moving average is $6.64. The stock has a market cap of $1.53 billion, a PE ratio of 113.28 and a beta of 0.25.
Vonage Holdings Corp. (NYSE:VG) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.27% and a return on equity of 17.99%. The firm had revenue of $243.30 million for the quarter, compared to analysts’ expectations of $242.40 million. During the same quarter last year, the business earned $0.11 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Vonage Holdings Corp. will post $0.27 earnings per share for the current year.
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In related news, insider Antoine Jamous sold 284,623 shares of Vonage Holdings Corp. stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $6.17, for a total value of $1,756,123.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $6.04, for a total transaction of $2,506,074.52. Following the completion of the sale, the director now owns 12,657,334 shares in the company, valued at approximately $76,450,297.36. The disclosure for this sale can be found here. Insiders sold 1,851,094 shares of company stock worth $11,812,234 in the last 90 days. Company insiders own 14.59% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Vonage Holdings Corp. by 160.1% in the first quarter. Goldman Sachs Group Inc. now owns 623,898 shares of the technology company’s stock valued at $3,943,000 after buying an additional 384,073 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Vonage Holdings Corp. by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 126,994 shares of the technology company’s stock valued at $803,000 after buying an additional 2,542 shares during the period. Paloma Partners Management Co boosted its stake in Vonage Holdings Corp. by 104.1% in the first quarter. Paloma Partners Management Co now owns 30,308 shares of the technology company’s stock valued at $192,000 after buying an additional 15,460 shares during the period. Highbridge Capital Management LLC bought a new stake in Vonage Holdings Corp. during the first quarter valued at $542,000. Finally, State Street Corp boosted its stake in Vonage Holdings Corp. by 2.9% in the first quarter. State Street Corp now owns 4,087,969 shares of the technology company’s stock valued at $25,833,000 after buying an additional 114,336 shares during the period. Institutional investors and hedge funds own 77.13% of the company’s stock.
Vonage Holdings Corp. Company Profile
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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