Summit Redstone reissued their hold rating on shares of Vonage (NYSE:VG) in a research note released on Friday.

Several other analysts have also weighed in on the company. Zacks Investment Research restated a hold rating and set a $11.00 price target on shares of Vonage in a report on Saturday, January 13th. Robert W. Baird restated a buy rating and set a $11.00 price target on shares of Vonage in a report on Wednesday, January 3rd. Needham & Company LLC increased their price target on Vonage from $10.00 to $12.00 and gave the company a buy rating in a report on Monday, December 11th. Oppenheimer increased their price target on Vonage from $9.00 to $10.00 and gave the company an outperform rating in a report on Thursday, November 9th. Finally, Citigroup restated a buy rating and set a $11.00 price target on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $10.30.

Shares of Vonage (VG) opened at $10.79 on Friday. Vonage has a twelve month low of $5.74 and a twelve month high of $11.32. The firm has a market capitalization of $2,403.33, a price-to-earnings ratio of 134.89, a P/E/G ratio of 6.18 and a beta of -0.04. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51.

In other Vonage news, Director Jeffrey A. Citron sold 238,303 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total value of $2,399,711.21. Following the sale, the director now owns 10,680,286 shares in the company, valued at $107,550,480.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Edward M. Gilvar sold 17,778 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total value of $173,513.28. Following the completion of the sale, the insider now owns 29,199 shares in the company, valued at approximately $284,982.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,739,126 shares of company stock worth $17,285,774. Insiders own 14.05% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vonage by 87.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares during the period. World Asset Management Inc purchased a new stake in Vonage in the third quarter worth $112,000. LS Investment Advisors LLC increased its stake in Vonage by 83.5% in the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock worth $127,000 after purchasing an additional 5,683 shares during the period. Bank of Montreal Can increased its stake in Vonage by 103.4% in the fourth quarter. Bank of Montreal Can now owns 12,948 shares of the technology company’s stock worth $131,000 after purchasing an additional 6,581 shares during the period. Finally, Fortaleza Asset Management Inc. purchased a new stake in Vonage in the fourth quarter worth $142,000. Institutional investors and hedge funds own 83.97% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://theolympiareport.com/2018/02/13/vonages-vg-hold-rating-reaffirmed-at-summit-redstone.html.

About Vonage

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.

Analyst Recommendations for Vonage (NYSE:VG)

Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.