Dougherty & Co Initiates Coverage on Vonage Holdings Corp. (VG)

Posted by Hossein Forouzandeh on Feb 6th, 2014 // No Comments

Stock analysts at Dougherty & Co assumed coverage on shares of Vonage Holdings Corp. (NYSE:VG) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $7.00 price target on the stock. Dougherty & Co’s price target suggests a potential upside of 60.18% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Analysts at Northland Securities initiated coverage on shares of Vonage Holdings Corp. in a research note to investors on Thursday, January 30th. They set an “outperform” rating and a $5.50 price target on the stock. Separately, analysts at Northland Capital Partners reiterated an “outperform” rating on shares of Vonage Holdings Corp. in a research note to investors on Thursday, January 30th. They now have a $5.50 price target on the stock. Finally, analysts at Zacks downgraded shares of Vonage Holdings Corp. to a “neutral” rating in a research note to investors on Friday, January 24th. They now have a $4.60 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $5.62.

In other Vonage Holdings Corp. news, Director Jeffrey A. Citron unloaded 400,000 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $4.13, for a total value of $1,652,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link .

Vonage Holdings Corp. ( NYSE:VG ) remained flat at $4.37 during trading on Monday. 2,421,050 shares of the company’s stock traded hands. Vonage Holdings Corp. has a 1-year low of $2.41 and a 1-year high of $4.94. The stock’s 50-day moving average is $3.71 and its 200-day moving average is $3.39. The company has a market cap of $901.1 million and a price-to-earnings ratio of 25.56.

Vonage Holdings Corp. ( NYSE:VG ) is a provider of communications services connecting people through broadband devices worldwide.