Vonage Holdings (VG) : Traders are bullish on Vonage Holdings (VG) as it has outperformed the S&P 500 by a wide margin of 7.42% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 12.87%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 12.83% in the last 1 week, and is up 7.84% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Vonage Holdings Corporation is up 50.71% in the last 3-month period. Year-to-Date the stock performance stands at 10.28%. The stock has recorded a 20-day Moving Average of 8.13% and the 50-Day Moving Average is 10.39%.
Vonage Holdings (NYSE:VG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.41 and $6.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.33, notching a gain of 0.48% for the day. The total traded volume was 5,860,114 . The stock had closed at $6.30 on the previous day.
Also, Brokerage firm Oppenheimer maintains its rating on Vonage Holdings (NYSE:VG). As per the latest information, the brokerage house raises the price target to $7 per share from a prior target of $6.5. The shares have been rated Outperform. The rating by the firm was issued on August 3, 2016.
Vonage Holdings Corp. is a provider of telecommunications and unified communications-as-a-service (UCaaS) solutions, connecting people through cloud-connected devices around the world. The Company offers a scalable session initiation protocol (SIP)-based Voice over Internet Protocol (VoIP) network. Through this technology, it offers voice and messaging services, and other features around the world on various devices. This platform enables a user via a single identity, either a number or user name, to access and utilize services and features by being connected to the Internet over third generation (3G), Long-Term Evolution (LTE), cable or Digital Subscriber Line (DSL) broadband networks. The Company has operations in the United States, the United Kingdom, Brazil, Israel and Canada. Its brand, BasicTalk, is a home phone service offering unlimited calling throughout the United States. It is focused on providing UCaaS solutions to domestic consumers, and small and medium businesses.