Vonage Holdings Corp. (NYSE:VG) had its target price lowered by equities researchers at Dougherty & Co from $10.50 to $8.50 in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. Dougherty & Co’s price target suggests a potential upside of 2.66% from the company’s current price.

A number of other equities analysts have also commented on the stock. Zacks Investment Research upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Thursday, May 11th. William Blair restated a “buy” rating on shares of Vonage Holdings Corp. in a research report on Thursday, May 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $8.31.

Vonage Holdings Corp. (NYSE VG) opened at 8.28 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 135.74 and a beta of -0.01. Vonage Holdings Corp. has a one year low of $5.43 and a one year high of $8.45. The firm has a 50-day moving average of $6.65 and a 200-day moving average of $6.60.

Vonage Holdings Corp. (NYSE:VG) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.06. The business had revenue of $252 million for the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, analysts predict that Vonage Holdings Corp. will post $0.28 EPS for the current year.

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In other news, Director Jeffrey A. Citron sold 414,913 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $6.77, for a total transaction of $2,808,961.01. Following the transaction, the director now directly owns 12,664,157 shares in the company, valued at $85,736,342.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David T. Pearson sold 666,667 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $7.02, for a total transaction of $4,680,002.34. Following the transaction, the chief financial officer now owns 948,241 shares in the company, valued at $6,656,651.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,024,852 shares of company stock worth $27,972,927. Company insiders own 14.05% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Vonage Holdings Corp. by 9.7% in the first quarter. Vanguard Group Inc. now owns 19,739,952 shares of the technology company’s stock worth $124,757,000 after buying an additional 1,741,500 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Vonage Holdings Corp. by 16.9% in the first quarter. Wellington Management Group LLP now owns 17,507,400 shares of the technology company’s stock valued at $110,647,000 after buying an additional 2,533,213 shares in the last quarter. BlackRock Inc. raised its position in shares of Vonage Holdings Corp. by 36,952.8% in the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after buying an additional 15,711,217 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Vonage Holdings Corp. by 998.4% in the first quarter. Alliancebernstein L.P. now owns 9,866,561 shares of the technology company’s stock valued at $62,357,000 after buying an additional 8,968,261 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Vonage Holdings Corp. by 12.2% in the second quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock valued at $46,960,000 after buying an additional 780,436 shares in the last quarter. Institutional investors own 76.82% 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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