Vonage Holdings (VG) has been under a strong bear grip, hence the stock is down -2.76% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.09% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.02% in the last 1 week, and is up 0.51% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1% and the 50-Day Moving Average is 11.51%. Vonage Holdings Corporation is up 26.98% in the last 3-month period. Year-to-Date the stock performance stands at 3.31%.
Vonage Holdings (NYSE:VG): stock turned positive on Friday. Though the stock opened at $5.76, the bulls momentum made the stock top out at $5.99 level for the day. The stock recorded a low of $5.7399 and closed the trading day at $5.93, in the green by 2.95%. The total traded volume for the day was 2,850,357. The stock had closed at $5.76 in the previous days trading.
Also, Citigroup upgrades its view on Vonage Holdings (NYSE:VG) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Neutral. Citigroup raises the price target from $4.75 per share to $8 per share on Vonage Holdings . The rating by the firm was issued on June 14, 2016.
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.