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

Shares of Vonage Holdings Corp. (NASDAQ:VGGet Rating) have received an average rating of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.94.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Vonage by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 28,102,422 shares of the company’s stock valued at $570,198,000 after acquiring an additional 1,444,009 shares during the period. Jana Partners LLC lifted its stake in shares of Vonage by 2.4% in the 3rd quarter. Jana Partners LLC now owns 10,070,660 shares of the company’s stock worth $162,339,000 after purchasing an additional 234,696 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Vonage by 250.0% in the 1st quarter. JPMorgan Chase & Co. now owns 9,868,648 shares of the company’s stock worth $200,235,000 after purchasing an additional 7,048,939 shares during the period. State Street Corp lifted its stake in shares of Vonage by 4.1% in the 1st quarter. State Street Corp now owns 8,840,231 shares of the company’s stock worth $179,368,000 after purchasing an additional 349,884 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Vonage by 26.8% in the 1st quarter. Bank of America Corp DE now owns 6,586,857 shares of the company’s stock worth $133,648,000 after purchasing an additional 1,392,794 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.

NASDAQ:VG opened at $16.84 on Thursday. The firm’s 50-day moving average price is $19.02 and its 200-day moving average price is $19.99. The company has a market capitalization of $4.32 billion, a PE ratio of -99.05 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. Vonage has a 1-year low of $12.85 and a 1-year high of $20.92.

Vonage (NASDAQ:VGGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.02) EPS 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 for the quarter, compared to analysts’ expectations of $367.15 million. During the same period last year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Vonage will post 0.14 EPS for the current fiscal year.

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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Analyst Recommendations for Vonage (NASDAQ:VG)

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