Price Target Update on Vonage Holdings (NYSE:VG)

Vonage Holdings (NYSE:VG) : The consensus price target for Vonage Holdings (NYSE:VG) is $6.83 for the short term with a standard deviation of $0.75. The most optimist securities analyst among the 6 who monitor the stock believes that the stock can reach $8, however, the pessimist price target for the company is $6.

Other Equity analysts have also commented on the company shares. Brokerage firm Citigroup upgrades its rating on Vonage Holdings (NYSE:VG). As per the latest information, the brokerage house raises the price target to $8 per share from a prior target of $4.75. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 14, 2016.

Vonage Holdings (NYSE:VG): stock turned positive on Thursday. Though the stock opened at $5.68, the bulls momentum made the stock top out at $5.84 level for the day. The stock recorded a low of $5.6 and closed the trading day at $5.83, in the green by 4.11%. The total traded volume for the day was 4,371,672. The stock had closed at $5.6 in the previous days trading.

The company shares have rallied 11.78% from its 1 Year high price. On Nov 4, 2015, the shares registered one year high at $7.42 and the one year low was seen on May 13, 2016. The 50-Day Moving Average price is $4.59 and the 200 Day Moving Average price is recorded at $4.92. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Network Officer) of Vonage Holdings Corp, Graham Mcgonigal had sold 150,994 shares worth of $792,719 in a transaction dated June 14, 2016. In this transaction, 150,994 shares were sold at $5.25 per share.

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.

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