Vonage Holdings (VG): Price Target and June Short Interest Disclosure

Vonage Holdings (VG) : The most positive equity analysts on Vonage Holdings (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 7 Wall Street Brokerage Firms. The average price target for shares are $7.07 with an expected fluctuation of $0.73 from the mean.

Vonage Holdings (VG) has shown a rise of 13.2% or 832,549 shares in the short positions. The bets have increased to 7,135,972 shares on June 30,2016 from 6,303,423 shares on June 15,2016. With respect to the floated shares, the shorts are 3.7%. The days to cover are calculated to be 2, using the standard per day volume of 3,234,894 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the Brokerage Firm, Citigroup, upgrades their rating on the shares of Vonage Holdings (NYSE:VG). Citigroup has a Buy rating on the shares. Previously, the analysts had a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $8 per share from a prior target of $4.75. The rating by the firm was issued on June 14, 2016.


Vonage Holdings (NYSE:VG): On Thursdays trading session , Opening price of the stock was $6.09 with an intraday high of $6.09. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $5.9. However, the stock managed to close at $5.91, a loss of 1.99% for the day. On the previous day, the stock had closed at $6.03. The total traded volume of the day was 4,618,055 shares.

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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