Citigroup Maintains Their Buy Rating on Vonage Holdings (VG)


In a report released today, Michael Rollins from Citigroup maintained a Buy rating on Vonage Holdings (VG), with a price target of $14.50. The company’s shares closed last Friday at $12.53, close to its 52-week high of $13.75.

According to TipRanks.com, Rollins is a 5-star analyst with an average return of 19.5% and a 74.0% success rate. Rollins covers the Technology sector, focusing on stocks such as Cogent Comms, CenturyLink, and T Mobile US.

Vonage Holdings has an analyst consensus of Strong Buy, with a price target consensus of $13.89, representing an 11.2% upside. In a report issued on August 6, Oppenheimer also maintained a Buy rating on the stock with a $14.00 price target.

See today’s analyst top recommended stocks >>

Based on Vonage Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $297 million and GAAP net loss of $3.76 million. In comparison, last year the company earned revenue of $298 million and had a net profit of $4.52 million.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VG in relation to earlier this year.

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. The Business segment provides cloud-based Unified Communications as a Service (UCaaS) solutions, which comprises of integrated voice, text, video, data, collaboration, and mobile applications over its scalable Session Initiation Protocol based Voice over Internet Protocol network. The Consumer segment offers UCaaS services and features, via a single identity. The company was founded by Jeffrey Adam Citron on May 1, 2000 and is headquartered in Holmdel, NJ.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts