Shares of Vonage Holdings Corp. (NASDAQ:VG – Get Rating) have earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $18.94.
Separately, Craig Hallum cut shares of Vonage from a “hold” rating to a “sell” rating and decreased their price target for the stock from $21.00 to $14.50 in a report on Friday, June 10th.
Vonage Stock Performance
NASDAQ VG opened at $20.99 on Friday. The company has a fifty day simple moving average of $19.21 and a two-hundred day simple moving average of $19.81. The stock has a market cap of $5.39 billion, a P/E ratio of -123.46 and a beta of 0.60. Vonage has a 12-month low of $12.85 and a 12-month high of $21.00. 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:VG – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The company had revenue of $358.80 million during the quarter, compared to analysts’ expectations of $367.15 million. Vonage had a positive return on equity of 2.53% and a negative net margin of 2.87%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. On average, analysts forecast that Vonage will post 0.11 earnings per share for the current year.
Institutional Trading of Vonage
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D grew its position in Vonage by 12.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 154,501 shares of the company’s stock valued at $2,911,000 after buying an additional 17,403 shares during the period. Xponance Inc. lifted its holdings in Vonage by 15.3% during the second quarter. Xponance Inc. now owns 13,915 shares of the company’s stock valued at $262,000 after purchasing an additional 1,843 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Vonage by 2.0% during the second quarter. New York State Teachers Retirement System now owns 259,364 shares of the company’s stock valued at $4,886,000 after purchasing an additional 5,107 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Vonage by 24.6% during the second quarter. Victory Capital Management Inc. now owns 90,800 shares of the company’s stock valued at $1,711,000 after purchasing an additional 17,919 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Vonage by 1.1% during the second quarter. Maryland State Retirement & Pension System now owns 102,307 shares of the company’s stock valued at $1,927,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 91.36% of the company’s stock.
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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