Sonus Networks Inc. (SONS) Reaches New 12-Month High at $9.52
Sonus Networks Inc. (NASDAQ:SONS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.52 and last traded at $9.33, with a volume of 270,761 shares trading hands. The stock had previously closed at $8.92.
Several equities analysts recently issued reports on the stock. DA Davidson assumed coverage on shares of Sonus Networks in a research report on Wednesday. They set a “buy” rating on the stock. William Blair reiterated a “hold” rating on shares of Sonus Networks in a research report on Tuesday, June 14th. B. Riley reiterated a “buy” rating and set a $12.25 price target on shares of Sonus Networks in a research report on Saturday, April 30th. Finally, Zacks Investment Research upgraded shares of Sonus Networks from a “hold” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a research report on Saturday, April 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $10.44.
The company’s market cap is $469.63 million. The firm’s 50-day moving average price is $8.81 and its 200 day moving average price is $7.66.
Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $59.20 million for the quarter, compared to the consensus estimate of $58.38 million. During the same quarter in the previous year, the business earned ($0.27) EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Analysts expect that Sonus Networks Inc. will post $0.31 EPS for the current year.
A number of large investors recently made changes to their positions in SONS. Dimensional Fund Advisors LP raised its stake in shares of Sonus Networks by 26.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,641,624 shares of the company’s stock worth $11,705,000 after buying an additional 342,192 shares during the last quarter. Morgan Stanley raised its stake in shares of Sonus Networks by 606.6% in the fourth quarter. Morgan Stanley now owns 263,424 shares of the company’s stock worth $1,879,000 after buying an additional 226,146 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Sonus Networks by 226.2% in the fourth quarter. Nationwide Fund Advisors now owns 151,809 shares of the company’s stock worth $1,082,000 after buying an additional 105,273 shares during the last quarter.
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.
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