Vonage Holdings Corp. (NASDAQ:VG) Given Average Rating of “Hold” by Analysts

Shares of Vonage Holdings Corp. (NASDAQ:VGGet Rating) have been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $18.94.

Separately, Craig Hallum lowered shares of Vonage from a “hold” rating to a “sell” rating and cut their price target for the company from $21.00 to $14.50 in a report on Friday, June 10th.

Institutional Trading of Vonage

A number of hedge funds have recently made changes to their positions in VG. CWM LLC acquired a new stake in shares of Vonage during the fourth quarter worth approximately $202,000. Oregon Public Employees Retirement Fund lifted its stake in Vonage by 2.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 97,186 shares of the company’s stock worth $2,020,000 after purchasing an additional 2,526 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Vonage by 872.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 117,630 shares of the company’s stock worth $2,451,000 after purchasing an additional 105,530 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Vonage by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 34,494 shares of the company’s stock worth $717,000 after purchasing an additional 908 shares during the last quarter. Finally, Vazirani Asset Management LLC bought a new position in Vonage during the fourth quarter worth $1,884,000. Institutional investors and hedge funds own 91.36% of the company’s stock.

Vonage Stock Performance

Shares of VG stock opened at $20.99 on Friday. The firm has a 50-day moving average price of $19.21 and a 200 day moving average price of $19.81. Vonage has a twelve month low of $12.85 and a twelve month high of $21.00. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of -123.46 and a beta of 0.60. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Vonage (NASDAQ:VGGet Rating) last announced its earnings results 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). Vonage had a negative net margin of 2.87% and a positive return on equity of 2.53%. The firm had revenue of $358.80 million during the quarter, compared to analyst estimates of $367.15 million. During the same period in the previous year, the firm posted $0.05 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that Vonage will post 0.11 earnings per share for the current fiscal year.

About Vonage

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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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