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Fly News Breaks for February 18, 2020
VG
Feb 18, 2020 | 18:07 EDT
Jefferies analyst Samad Samana keeps his Buy rating and $14 price target on Vonage after is Q4 earnings, saying the results were "good enough" and the 2020 guidance - while missing consensus - was better than feared. The analyst says the API services revenue drove the upside, adding that while App platform services revenue was light, the mid-market/enterprise revenue growth continued to accelerate. Samana adds that the management's strategic review positions Vonage toward a "pureplay enterprise comms platform".
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