Vonage Holdings (VG) Received its Third Buy in a Row


After Jefferies and Northland Securities gave Vonage Holdings (NYSE: VG) a Buy rating last month, the company received another Buy, this time from Stephens. Analyst Dmitry Netis assigned a Buy rating to Vonage Holdings today and set a price target of $17. The company’s shares opened today at $11.23.

Netis commented:

“We believe this move makes Nexmo a more complete solution when going up against rival Twilio as more cost-conscious customers may choose the email channel over SMS. Sendinblue’s solution will also support Vonage’s growth internationally, as the platform sends over 5 million SMS messages monthly, and 100 million emails daily across 80k+ users in 160 countries. The partnership is an OEM model, where Vonage bills the customer. Overall, we continue to believe Vonage is well positioned for 2H19 with continued strong growth in Nexmo (CPaaS) and improved bookings in the Application (UCaaS+CCaaS) business. VG trades at a significant discount (2.6x CaaS peers at 4.9x.”

Netis has an average return of 26.8% when recommending Vonage Holdings.

According to TipRanks.com, Netis is ranked #213 out of 5204 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vonage Holdings with a $16 average price target, implying a 42.5% upside from current levels. In a report issued on June 18, Northland Securities also assigned a Buy rating to the stock with a $18 price target.

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Vonage Holdings’ market cap is currently $2.71B and has a P/E ratio of 268.59. The company has a Price to Book ratio of 5.12.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock.

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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.

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