Short Term Price Target on Vonage Holdings (VG)

Vonage Holdings (NYSE:VG) : The most positive equity analysts on Vonage Holdings (NYSE:VG) expects the shares to touch $8, whereas, the least positive believes that the stock will trade at $6 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $7.17 with an expected fluctuation of $0.75 from the mean.

Shares of Vonage Holdings Corporation rose by 4.63% in the last five trading days and 31.75% for the last 4 weeks. Vonage Holdings Corporation is up 31.47% in the last 3-month period. Year-to-Date the stock performance stands at 6.27%. Also, Equity Analysts at the Citigroup upgrades the rating on Vonage Holdings (NYSE:VG). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Neutral. The Analysts at the ratings agency raises the price target from $4.75 per share to $8 per share. The rating by the firm was issued on June 14, 2016.

Vonage Holdings (NYSE:VG) : 5 brokerage houses believe that Vonage Holdings (NYSE:VG) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 7 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.29.

Vonage Holdings (NYSE:VG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.04 and $6.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.29. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.10, notching a gain of 0.83% for the day. The total traded volume was 4,823,349 . The stock had closed at $6.05 on the previous day.

In an insider trading activity, Graham Mcgonigal, officer (Chief Network Officer) of Vonage Holdings Corp, unloaded 150,994 shares at an average price of $5.25 on June 14, 2016. The total amount of the transaction was worth $792,719, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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