Oppenheimer Maintains Vonage Holdings Corp. to Outperform with Price Target $7.00

Brokerage firm Oppenheimer Maintains its rating on Vonage Holdings Corp.(NYSE:VG). In a research note issued to the investors, the brokerage major Raises the price-target to $7.00 per share. The shares have been rated Outperform. The rating by Oppenheimer was issued on Aug 3, 2016.

In a different note, On Jun 14, 2016, Citigroup said it Upgrades its rating on Vonage Holdings Corp.. In the research note, the firm Raises the price-target to $4.75 per share. The shares have been rated ‘Buy’ by the firm.

Vonage Holdings Corp. (VG) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.36% at a volume of 29,12,488. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.62. The peak price level was also seen at $5.62 while the days lowest was $5.43. Finally the shares closed at $5.61. The 52-week high of the shares is $7.417 while the 52-week low is $3.815. According to the latest information available, the market cap of the company is $1,214 M.

Vonage Holdings Corp.(VG) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $233.68M. Analysts had an estimated revenue of $226.48M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.07.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, Mcgonigal Graham (Chief Network Officer) sold 64,248 shares at $6.00 per share price.Also, 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.

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