Vonage Holdings Corp. (VG) is Upgraded by Citigroup to Buy

Vonage Holdings Corp. (VG) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Jun 14, 2016.

Many Wall Street Analysts have commented on Vonage Holdings Corp.. 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 -0.12 points or -2.51% at $4.66 with 13,50,271 shares getting traded on Friday. Post opening the session at $4.79, the shares hit an intraday low of $4.63 and an intraday high of $4.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 16, 2016, Alan Masarek (CEO) purchased 126,460 shares at $3.91 per share price. According to the SEC, on Mar 14, 2016, David C Nagel (director) sold 10,000 shares at $4.94 per share price. On Jun 29, 2015, Mcgonigal Graham (SVP, Network Operations) sold 102,500 shares at $5.00 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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