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Fly News Breaks for April 12, 2019
Apr 12, 2019 | 14:31 EDT
Stephens analyst Dmitry Netis reiterated an Overweight/volatile rating and $14 price target on Vonage, saying this is an opportunity to buy on a pullback. The analyst believes that Vonage would have pre-announced negatively otherwise, and added that the company remains "well-positioned from a leadership perspective" despite the departure of Dennis Fois, Vonage's Applications Group President, for a pre-IPO company. Netis also sees recent activism in the name adding a floor in the stock, along with "a sense of urgency for the board/management team to resolve any leadership inefficiencies."
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