In a report released today, Timothy Horan from Oppenheimer maintained a Buy rating on Vonage Holdings (VG), with a price target of $14.00. The company’s shares closed last Thursday at $12.53, close to its 52-week high of $13.75.
According to TipRanks.com, Horan is a top 100 analyst with an average return of 18.6% and a 74.2% success rate. Horan covers the Technology sector, focusing on stocks such as Limelight Networks, GTT Communications, and Boingo Wireless.
Currently, the analyst consensus on Vonage Holdings is a Strong Buy with an average price target of $13.20, a 4.3% upside from current levels. In a report issued on July 30, Citigroup also maintained a Buy rating on the stock with a $13.50 price target.
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The company has a one-year high of $13.75 and a one-year low of $4.18. Currently, Vonage Holdings has an average volume of 3.15M.
Based on the recent corporate insider activity of 94 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.
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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.
