Vonage Holdings Corp. (NYSE:VG) has received an average recommendation of “Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.81.

A number of equities research analysts have recently issued reports on the company. Robert W. Baird reiterated a “buy” rating on shares of Vonage in a research note on Friday, November 17th. Zacks Investment Research lowered Vonage from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Oppenheimer raised their price objective on Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective (up previously from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. Finally, Citigroup restated a “buy” rating and set a $11.00 price objective on shares of Vonage in a research note on Wednesday, November 8th. They noted that the move was a valuation call.

Vonage (VG) traded up $0.01 during trading on Thursday, hitting $9.93. The stock had a trading volume of 2,028,435 shares, compared to its average volume of 2,540,506. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51. Vonage has a 52 week low of $5.74 and a 52 week high of $10.49. The stock has a market cap of $2,298.15, a P/E ratio of 45.68, a price-to-earnings-growth ratio of 7.13 and a beta of -0.04.

Vonage (NYSE:VG) last posted its 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. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. analysts expect that Vonage will post 0.28 EPS for the current fiscal year.

In other news, Director Jeffrey A. Citron sold 414,913 shares of Vonage stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $8.12, for a total transaction of $3,369,093.56. Following the transaction, the director now directly owns 12,676,047 shares in the company, valued at approximately $102,929,501.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward M. Gilvar sold 17,778 shares of Vonage stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total value of $173,513.28. Following the transaction, the insider now owns 29,199 shares in the company, valued at $284,982.24. The disclosure for this sale can be found here. In the last three months, insiders sold 1,539,123 shares of company stock worth $12,962,492. Company insiders own 14.05% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC increased its position in shares of Vonage 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 purchasing an additional 261,918 shares during the period. First Washington CORP acquired a new position in shares of Vonage in the 2nd quarter worth $2,446,000. Pier Capital LLC acquired a new position in shares of Vonage in the 2nd quarter worth $5,348,000. Federated Investors Inc. PA grew its holdings in shares of Vonage by 13.9% in the 2nd quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock worth $13,109,000 after acquiring an additional 243,979 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Vonage by 15.3% in the 2nd quarter. Royal Bank of Canada now owns 6,559,655 shares of the technology company’s stock worth $42,902,000 after acquiring an additional 872,527 shares during the last quarter. Institutional investors own 84.01% of the company’s stock.

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About Vonage

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.

Analyst Recommendations for Vonage (NYSE:VG)

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