Vonage Holdings Corp is a publicly held provider of VoIP-based communication (also known as cloud communication) service for residential and business telecommunication needs. Founded in 2001 in Melville, New York before moving its headquarter to New Jersey, the once consumers-focused company has grown into a business giant and further expanded its presence in the marketplace through various acquisitions. As one of the best VoIP based communication provider in the market, Vonage does not only cater to individuals, but also businesses with its Vonage business – providing a wide range of telecommunication solutions for business across various devices through its intuitive mobile application that allows businesses to communicate with their consumers through video, data, voice, text, and many more overVonage’s signature scalable SIP based Voice Over Internet Protocol network that is not only flexible, but also incredibly secure.
VoIP based telecommunication has become very prevalent in this day and age, this is reflected in what Vonage has accomplished over the years. One way to measure its success in the industry is by studying the trends of Vonage stock in the business marketplace. Based on the most recent cloud communication market analysis, Vonage has been widely recognized as the leading VoIP based communication provider that does not only provide superior reliability when it comes to service, but also has much greater customers’ ownership – the recognition along with its reliability play a significant role to the surge of new customers as well as products loyalty. Not only that, they also drive more investors.
As Vonage Holdings expands the functionality of its platform, the overall market also grows at an accelerated speed with a fair share from both UCaas and CpaaS markets. It’s reflected in Vonage stock during the third quarter in which its share’s price target was raised by as little as $1 to as much a $8 while still maintaining its outperforming rating. Shares were seen rising for 1% (to around $7.14) during its midday trading, this movement was then followed with a quite significant gain on the next day with the results of Vonage stock creeped up significantly to 17%. The substantial gain did not only affect that aspect, however, because when we look into its overall business revenue, the gain could also be seen in the new additional seats which jumped up to 36,000 seats – which is apparently higher than many analysts and traders estimated at the time. Initially they only expected a rise to 15,000 seats, this over 100% jump in additional seats is as impressive as it is promising for those who wish to dabble in trade.
The stock, according to Vonage’s recorded historical prices in the marketplace, shows a fluctuative trend – much like its other counterparts. However, even at its lowest, the price never fell under 6.16 – which is recorded as its all time low on the 3rd of November 2016. Vonagebusiness made an upward trend the next day by 0.6 point and stabilized throughout the course of a few months. In January, the prices hiked to 7.25 and by January 10th 2017, the price is closed at 7.51 with 0.13 or 1.76% increase.