Sonus Networks Inc. (SONS) Hits New 12-Month High at $9.80
Sonus Networks Inc. (NASDAQ:SONS) hit a new 52-week high on Tuesday . The stock traded as high as $9.80 and last traded at $9.54, with a volume of 297,430 shares traded. The stock had previously closed at $9.72.
SONS has been the subject of several analyst reports. Zacks Investment Research downgraded Sonus Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. B. Riley reaffirmed a “buy” rating and issued a $12.25 target price on shares of Sonus Networks in a research report on Monday, April 25th. William Blair reaffirmed a “hold” rating on shares of Sonus Networks in a research report on Tuesday, June 14th. Finally, DA Davidson initiated coverage on Sonus Networks in a research report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.35.
The firm’s market capitalization is $434.67 million. The company’s 50-day moving average price is $8.87 and its 200 day moving average price is $7.76.
Sonus Networks (NASDAQ:SONS) last issued its earnings results on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The business earned $60.90 million during the quarter, compared to analyst estimates of $59.67 million. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. On average, analysts forecast that Sonus Networks Inc. will post $0.31 EPS for the current fiscal year.
An institutional investor recently raised its position in Sonus Networks stock. Dimensional Fund Advisors LP boosted its stake in Sonus Networks Inc. (NASDAQ:SONS) by 26.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,641,624 shares of the company’s stock after buying an additional 342,192 shares during the period. Dimensional Fund Advisors LP owned 3.30% of Sonus Networks worth $11,705,000 at the end of the most recent reporting period.
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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