Vonage Holdings Corp. (VG) is Reiterated by Needham to Buy, Raises Price Target to $ 8

Vonage Holdings Corp. (VG) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $6 . Needham advised their investors in a research report released on Jun 28, 2016.

Many Wall Street Analysts have commented on Vonage Holdings Corp.. Vonage Holdings Corp. was Upgraded by Citigroup to ” Buy” on Jun 14, 2016. Needham Initiated Vonage Holdings Corp. on Apr 7, 2016 to “Buy”, Price Target of the shares are set at $6.

On the company’s financial health, Vonage Holdings Corp. reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.06. The company had revenue of $226.82 million for the quarter, compared to analysts expectations of $227.04 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Vonage Holdings Corp. closed down -0.21 points or -3.70% at $5.47 with 33,66,779 shares getting traded on Monday. Post opening the session at $5.64, the shares hit an intraday low of $5.34 and an intraday high of $5.64 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 15, 2016, Mcgonigal Graham (Chief Network Officer) sold 150,994 shares at $5.25 per share price. According to the SEC, on May 16, 2016, Alan Masarek (CEO) purchased 126,460 shares at $3.91 per share price. On Mar 14, 2016, David C Nagel (director) sold 10,000 shares at $4.94 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Vonage Holdings Corp.

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