Oppenheimer Maintains Their Buy Rating on Vonage Holdings (VG)


In a report released today, Timothy Horan from Oppenheimer maintained a Buy rating on Vonage Holdings (NYSE: VG). The company’s shares opened today at $13.84, close to its 52-week high of $13.87.

According to TipRanks.com, Horan is a top 25 analyst with an average return of 17.9% and a 78.6% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vonage Holdings with a $15.40 average price target, which is an 11.3% upside from current levels. In a report issued on August 1, Needham also reiterated a Buy rating on the stock with a $15 price target.

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Based on Vonage Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $8.56 million. In comparison, last year the company had a net profit of $4.83 million.

Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Stephen Fisher, a Director at VG sold 163,951 shares for a total of $2,184,909.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices. It operates through the Business and Consumer segments.

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