Vonage (NYSE:VG)‘s stock had its “hold” rating restated by Summit Redstone in a research note issued on Friday.
A number of other brokerages have also recently weighed in on VG. Zacks Investment Research restated a “hold” rating and issued a $11.00 price objective on shares of Vonage in a report on Saturday, January 13th. Robert W. Baird restated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a report on Wednesday, January 3rd. Needham & Company LLC upped their price objective on shares of Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Oppenheimer upped their price objective on shares of Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Finally, Citigroup restated a “buy” rating and issued a $11.00 price objective on shares of Vonage in a report on Wednesday, November 8th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Vonage currently has a consensus rating of “Buy” and a consensus price target of $10.30.
Vonage (VG) opened at $10.79 on Friday. The stock has a market cap of $2,403.33, a PE ratio of 47.77, a P/E/G ratio of 6.18 and a beta of -0.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. Vonage has a 52-week low of $5.74 and a 52-week high of $11.32.
Several large investors have recently bought and sold shares of the company. Smith Asset Management Group LP purchased a new stake in shares of Vonage during the fourth quarter valued at approximately $688,000. Quadrature Capital Ltd grew its holdings in shares of Vonage by 36.9% during the fourth quarter. Quadrature Capital Ltd now owns 68,115 shares of the technology company’s stock valued at $693,000 after buying an additional 18,358 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of Vonage by 167.1% during the fourth quarter. Martingale Asset Management L P now owns 304,515 shares of the technology company’s stock valued at $3,097,000 after buying an additional 190,513 shares during the last quarter. American International Group Inc. grew its holdings in shares of Vonage by 3.0% during the fourth quarter. American International Group Inc. now owns 163,914 shares of the technology company’s stock valued at $1,667,000 after buying an additional 4,803 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in shares of Vonage during the fourth quarter valued at approximately $1,729,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.
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Vonage Company Profile
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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