Vonage Holdings Corp. (NYSE:VG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Vonage is redefining communications by offering consumers and small businesses an affordable alternative to traditional telephone service. The fastest growing telephony company in North America, Vonage’s service area encompasses more than 2000 active rate centers in over 130 global markets. Vonage is sold directly through their website and retail partners such as SAM’s Club, Amazon.com, RadioShack, Best Buy, Circuit City, Staples, Fry’s Electronics and Office Depot. Wholesale partners such as EarthLink, ARMSTRONG(R), Advanced Cable Communications and the Coldwater Board of Public Utilities resell the Vonage broadband phone service under their own unique brands. With more than 300,000 lines in service, Vonage continues to add more than 30,000 lines per month to its network. Over 10 million calls per week are made using Vonage, the easy-to-use, feature-rich, flat rate phone service. “

VG has been the topic of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price (up previously from $9.50) on shares of Vonage Holdings Corp. in a research note on Wednesday, November 8th. Oppenheimer Holdings, Inc. boosted their target price on Vonage Holdings Corp. from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. FBN Securities downgraded Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 target price on the stock. in a research note on Thursday, August 10th. Robert W. Baird restated a “buy” rating and issued a $9.00 target price on shares of Vonage Holdings Corp. in a research note on Friday, October 20th. Finally, Northland Securities restated a “buy” rating and issued a $9.50 target price on shares of Vonage Holdings Corp. in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.72.

Vonage Holdings Corp. (NYSE VG) traded down $0.07 during mid-day trading on Tuesday, reaching $8.78. The company’s stock had a trading volume of 1,446,100 shares, compared to its average volume of 2,572,070. The firm has a market cap of $2,000.00, a P/E ratio of 40.23, a P/E/G ratio of 6.44 and a beta of -0.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. Vonage Holdings Corp. has a fifty-two week low of $5.74 and a fifty-two week high of $9.04.

Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $253.10 million during the quarter, compared to the consensus estimate of $249.02 million. Vonage Holdings Corp. had a return on equity of 11.47% and a net margin of 2.14%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. equities research analysts expect that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.

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In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 138,303 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the sale, the director now owns 12,676,047 shares of the company’s stock, valued at approximately $103,309,783.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $8.11, for a total transaction of $3,364,944.43. Following the sale, the director now directly owns 12,670,751 shares in the company, valued at approximately $102,759,790.61. The disclosure for this sale can be found here. Insiders sold a total of 1,581,392 shares of company stock worth $12,777,047 in the last ninety days. 14.05% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its holdings in Vonage Holdings Corp. by 54.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 744,774 shares of the technology company’s stock valued at $4,871,000 after acquiring an additional 261,918 shares during the period. First Washington CORP bought a new stake in Vonage Holdings Corp. during the 2nd quarter valued at $2,446,000. Pier Capital LLC bought a new stake in Vonage Holdings Corp. during the 2nd quarter valued at $5,348,000. Federated Investors Inc. PA raised its holdings in Vonage Holdings Corp. by 13.9% during the 2nd quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock valued at $13,109,000 after acquiring an additional 243,979 shares during the period. Finally, Royal Bank of Canada raised its holdings in Vonage Holdings Corp. by 15.3% during the 2nd quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock valued at $42,902,000 after acquiring an additional 872,527 shares during the period. 80.53% of the stock is currently owned by institutional investors and hedge funds.

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

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