Sonus Networks Inc. (SONS) Hits New 52-Week High at $9.80
Shares of Sonus Networks Inc. (NASDAQ:SONS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.80 and last traded at $9.54, with a volume of 297,430 shares. The stock had previously closed at $9.72.
A number of analysts have recently issued reports on SONS shares. Zacks Investment Research cut shares of Sonus Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. B. Riley restated a “buy” rating and set a $12.25 target price on shares of Sonus Networks in a research note on Saturday, April 30th. William Blair restated a “hold” rating on shares of Sonus Networks in a research note on Tuesday, June 14th. Finally, DA Davidson started coverage on shares of Sonus Networks in a research note on Wednesday, July 20th. They set a “buy” rating and a $12.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.75.
The firm’s market capitalization is $474.59 million. The firm has a 50 day moving average of $8.85 and a 200 day moving average of $7.72.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.05. The business earned $59.20 million during the quarter, compared to analysts’ expectations of $58.38 million. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.27) earnings per share. On average, equities analysts expect that Sonus Networks Inc. will post $0.31 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Sonus Networks stock. Nationwide Fund Advisors raised its position in Sonus Networks Inc. (NASDAQ:SONS) by 226.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 151,809 shares of the company’s stock after buying an additional 105,273 shares during the period. Nationwide Fund Advisors owned about 0.31% of Sonus Networks worth $1,082,000 as of its most recent filing with the SEC.
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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