Vonage Holdings Corp. (NYSE: VG) had its price target increased by equities researchers at Dougherty & Co from $8.00 to $9.00. The company currently has a rating of Buy on the shares. A number of other analysts have issued reports on the company recently, and Vonage Holdings Corp. has earned a consensus one-year price target of $7.81, higher than the opening price of $5.65, a difference of 13.19 percent. Vonage Holdings Corp. stock has a 52-week high of $7.42.
U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.
The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.
The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.
Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares
Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Vonage Holdings Corp. (NYSE: VG) opened at $5.65 yesterday and traded in a range between, $5.65 and $5.93, and last traded at $5.92, which represents a change of $ 0.24 over the previous closing price.
Vonage Holdings Corp. (NYSE: VG) currently has a market cap of 1.28B
The stocks average daily volume is 2,991,220 shares out of a total float 177,309,000 of and some 2,274,330 shares crossed the trading desk yesterday, 60 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind Vonage Holdings Corp. (NYSE: VG) now has a 50-day MA is $5.89 and 200-day MA is $5.16, and it has traded in a 52-week range between $3.82 – 7.42 and today’s last price is -0.20 percent off the 52 week high of $7.42.
Earnings growth is an important factor to look at when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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