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.

Analyst Recommendations for Vonage Holdings Corp. (NYSE:VG)

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.

12 Month Chart for NYSE:VG

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