Vonage Holdings Corp. Common St (NYSE:VG):
Vonage Announces Strong Third Quarter 2016 Results, Highlighted by 86% Revenue Growth in Vonage Business.
The company is trading down from yesterday’s close of $7.065.
Shares of the company are trading at $6.96 which is just a bit higher than $6.43, the 50 day moving average and a bit higher than the 200 day moving average of $5.56. The 50 day moving average was up $0.53 whereas the 200 day moving average was up $1.40 or +25.13%.
Vonage Holdings Corp. Common St currently has a P/E ratio of 77.33 and the market cap is 1.51B. As of the latest earnings report the EPS was $0.07 and is projected to be $0.32 for the current year with 217,000,000 shares presently outstanding. Next quarter’s EPS is expected be $0.06 with next year’s EPS anticipated to be $0.27.
A few brokerages have released ratings on VG of late. Equity analyst Baird initiated coverage on VG setting a rating of “Outperform” and establishing a price target of $8.00. Equity analyst Citigroup upgraded the stock and raised the price target on June 14 changing the price target from $4.75 to $8.00 and moving the rating from “Neutral” to “Buy”.
On June 14 the stock rating was upgraded to “Buy” from “Neutral” and a price target of $8.00 was set in a statement from Citigroup. On March 8, 2016 Summit Research initiated coverage with an initial rating of “Hold” and setting a price target of $6.00.
On February 12 Oppenheimer kept the company rating at “Outperform” and moved down the price target from $8.00 to $6.50. On February 12 the company was upgraded from “Sector Perform” to “Outperform” in an announcement from FBN Securities.