Vonage (NASDAQ:VG) Shares Gap Down to $15.88

Vonage Holdings Corp. (NASDAQ:VG – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $15.88, but opened at $15.51. Vonage shares last traded at $16.59, with a volume of 97,234 shares traded.

Separately, Craig Hallum lowered shares of Vonage from a “hold” rating to a “sell” rating and dropped their price target for the stock from $21.00 to $14.50 in a research report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.94.

The company’s 50-day moving average price is $19.30 and its two-hundred day moving average price is $20.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Vonage (NASDAQ:VG – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.06). The company had revenue of $358.80 million during the quarter, compared to the consensus estimate of $367.15 million. Vonage had a negative net margin of 2.87% and a positive return on equity of 2.53%. Vonage’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. On average, sell-side analysts predict that Vonage Holdings Corp. will post 0.14 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Vonage in the fourth quarter valued at about $29,000. Marshall Wace LLP acquired a new stake in Vonage during the fourth quarter worth about $98,000. Point72 Hong Kong Ltd acquired a new stake in Vonage during the fourth quarter worth about $131,000. Aaron Wealth Advisors LLC acquired a new stake in Vonage during the first quarter worth about $325,000. Finally, PenderFund Capital Management Ltd. acquired a new stake in Vonage during the first quarter worth about $174,000. Institutional investors and hedge funds own 91.36% of the company’s stock.

Vonage Company Profile (NASDAQ:VG)

Vonage Holdings Corp. primarily operates as a cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.

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