Vonage (NYSE:VG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm presently has a $11.00 price target on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.11% from the company’s previous close.

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. “

Other analysts have also recently issued research reports about the stock. Robert W. Baird restated a “buy” rating and set a $11.00 target price on shares of Vonage in a report on Wednesday. Oppenheimer boosted their target price on shares of Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price (up previously from $9.50) on shares of Vonage in a report on Wednesday, November 8th. Northland Securities reiterated a “buy” rating and issued a $9.50 price target on shares of Vonage in a research note on Thursday, October 12th. Finally, Craig Hallum reiterated a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of Vonage in a research note on Tuesday, November 7th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Vonage presently has a consensus rating of “Buy” and a consensus price target of $10.30.

Shares of Vonage (NYSE:VG) traded down $0.13 during mid-day trading on Friday, hitting $9.99. 963,015 shares of the stock were exchanged, compared to its average volume of 1,840,000. Vonage has a 1 year low of $5.74 and a 1 year high of $10.56. The company has a market cap of $2,270.00, a PE ratio of 111.00, a PEG ratio of 5.95 and a beta of -0.05. 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 (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.07. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The firm had revenue of $253.10 million for the quarter, compared to analysts’ expectations of $249.02 million. During the same quarter in the previous year, the business posted $0.09 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. equities research analysts expect that Vonage will post 0.28 earnings per share for the current year.

In other Vonage news, Director Jeffrey A. Citron sold 414,916 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $10.18, for a total transaction of $4,223,844.88. Following the transaction, the director now owns 10,676,047 shares in the company, valued at approximately $108,682,158.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Citron sold 138,303 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 12,676,047 shares in the company, valued at approximately $103,309,783.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,677,429 shares of company stock worth $15,273,575. 14.05% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thompson Davis & CO. Inc. lifted its stake in Vonage by 0.3% during the 1st quarter. Thompson Davis & CO. Inc. now owns 41,750 shares of the technology company’s stock valued at $264,000 after acquiring an additional 125 shares during the period. Aperio Group LLC lifted its stake in Vonage by 2.2% during the 2nd quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after acquiring an additional 433 shares during the period. Suntrust Banks Inc. lifted its stake in Vonage by 2.4% during the 1st quarter. Suntrust Banks Inc. now owns 31,164 shares of the technology company’s stock valued at $196,000 after acquiring an additional 718 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Vonage by 1.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,728 shares of the technology company’s stock valued at $334,000 after acquiring an additional 776 shares during the period. Finally, Eqis Capital Management Inc. lifted its stake in Vonage by 4.2% during the 2nd quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock valued at $131,000 after acquiring an additional 813 shares during the period. Institutional investors and hedge funds own 83.99% of the company’s stock.

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Vonage 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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