Vonage Holdings Corp. (NASDAQ:VG) Receives $18.94 Average Price Target from Brokerages

Shares of Vonage Holdings Corp. (NASDAQ:VG – Get Rating) have received a consensus recommendation of “Hold” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have covered 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 lowered their price objective for the stock from $21.00 to $14.50 in a research report on Friday, June 10th.

VG opened at $16.84 on Thursday. 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 company’s 50-day moving average is $19.02 and its 200 day moving average is $19.99. Vonage has a fifty-two week low of $12.85 and a fifty-two week high of $20.92. The firm has a market capitalization of $4.32 billion, a P/E ratio of -99.05 and a beta of 0.60.

Vonage (NASDAQ:VG – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $367.15 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Vonage will post 0.14 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of VG. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Vonage in the fourth quarter worth about $29,000. Point72 Hong Kong Ltd purchased a new position in shares of Vonage in the fourth quarter worth about $131,000. PenderFund Capital Management Ltd. purchased a new position in shares of Vonage in the first quarter worth about $174,000. Franklin Resources Inc. purchased a new position in shares of Vonage in the third quarter worth about $176,000. Finally, Gladius Capital Management LP purchased a new position in Vonage during the fourth quarter valued at approximately $193,000. Hedge funds and other institutional investors own 91.36% of the company’s stock.

About Vonage (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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