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Fly News Breaks for November 22, 2019
VG, SAP
Nov 22, 2019 | 08:10 EDT
Stephens analyst Ryan MacWilliams noted that Vonage (VG) announced the hiring of SAP (SAP) veteran Rodolpho Cardenuto to lead its Applications segment, stating that he believes Cardenuto is also a strong fit and investors should be encouraged that a replacement has been found. Cardenuto's most recent experience at SAP is "critical for Vonage at this juncture," as the company needs to drive Applications segment and mid-market/enterprise growth, added MacWilliams, who keeps an Overweight rating on Vonage shares.