UPDATE: Needham & Company Starts Vonage (VG) at Hold

June 21, 2021 4:10 PM EDT
Get Alerts VG Hot Sheet
Price: $14.26 -1.18%

Rating Summary:
    11 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - June 21, 2021 4:16 PM EDT)

Needham & Company analyst Ryan Koontz initiates coverage on Vonage (NASDAQ: VG) with a Hold rating.

The analyst commented, "We initiate coverage of VG with a Hold rating. We see VG as a company positioned in several fast-growing cloud communications segments, CPaaS, UCaaS, and CCaaS, but we have concerns that a lack of scale in any of them makes it tough for the company to be a leader or a disruptor against an increasingly competitive landscape. The jury remains out on an almost entirely new management team who joined VG from large companies with the aim of increasing opex efficiency and reshaping go-to-market.

While we view consensus revenue estimates as achievable, we want to see clear evidence of meaningful revenue acceleration in the UCaaS/CCaaS business and a path to operating leverage before getting more constructive on the stock."

For an analyst ratings summary and ratings history on Vonage click here. For more ratings news on Vonage click here.

Shares of Vonage closed at $14.67 yesterday.

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