Craig Hallum Downgrades Vonage (NASDAQ:VG) to Sell

Vonage (NASDAQ:VGGet Rating) was downgraded by research analysts at Craig Hallum from a “hold” rating to a “sell” rating in a note issued to investors on Friday, The Fly reports. They presently have a $14.50 price target on the stock, down from their previous price target of $21.00. Craig Hallum’s price target would suggest a potential downside of 23.12% from the stock’s previous close.

Separately, Zacks Investment Research raised Vonage from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Vonage has a consensus rating of “Hold” and an average price target of $18.94.

Shares of NASDAQ:VG opened at $18.86 on Friday. Vonage has a 1 year low of $12.85 and a 1 year high of $20.92. The company has a market cap of $4.84 billion, a PE ratio of -110.93 and a beta of 0.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day moving average is $19.64 and its 200 day moving average is $20.23.

Vonage (NASDAQ:VGGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.06). The firm had revenue of $358.80 million for the quarter, compared to the consensus estimate of $367.15 million. Vonage had a negative net margin of 2.87% and a positive return on equity of 2.53%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. Analysts expect that Vonage will post 0.14 EPS for the current fiscal year.

In other Vonage news, insider Vinod Lala sold 71,543 shares of the stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $20.12, for a total transaction of $1,439,445.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.72% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in VG. Fuller & Thaler Asset Management Inc. purchased a new stake in Vonage in the 4th quarter worth about $29,000. First Manhattan Co. purchased a new stake in Vonage in the 3rd quarter worth about $32,000. Marshall Wace LLP purchased a new stake in Vonage in the 4th quarter worth about $98,000. Point72 Hong Kong Ltd purchased a new stake in Vonage in the 4th quarter worth about $131,000. Finally, PenderFund Capital Management Ltd. purchased a new stake in Vonage in the 1st quarter worth about $174,000. 91.36% of the stock is owned by hedge funds and other institutional investors.

Vonage Company Profile (Get Rating)

Vonage Holdings Corp. primarily operates as a cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.

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