Stephens Assigns a Buy Rating on Vonage Holdings (VG)

In a report released today, Ryan MacWilliams from Stephens assigned a Buy rating to Vonage Holdings (VGResearch Report), with a price target of $15.00. The company’s shares closed last Monday at $7.67, close to its 52-week low of $7.01.

According to TipRanks.com, MacWilliams is a 1-star analyst with an average return of -4.7% and a 48.0% success rate. MacWilliams covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Everbridge.

Currently, the analyst consensus on Vonage Holdings is a Strong Buy with an average price target of $13.11.

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Based on Vonage Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $21.1 million. In comparison, last year the company had a GAAP net loss of $6.94 million.

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Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices. It operates through the Business and Consumer segments.