Vonage’s (VG) Hold Rating Reaffirmed at Summit Redstone
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.
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.
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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.
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