Sonus Networks Inc. (SONS) Stock Price Up 2.1%
Sonus Networks Inc. (NASDAQ:SONS)’s share price rose 2.1% during trading on Thursday . The company traded as high as $8.71 and last traded at $8.69, with a volume of 140,176 shares trading hands. The stock had previously closed at $8.51.
SONS has been the subject of a number of research reports. DA Davidson initiated coverage on Sonus Networks in a research note on Wednesday, July 20th. They issued a “buy” rating and a $12.00 target price for the company. TheStreet upgraded Sonus Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $9.75 target price for the company in a research note on Wednesday, August 17th. William Blair restated a “hold” rating on shares of Sonus Networks in a research note on Tuesday, June 14th. Finally, B. Riley restated a “buy” rating and issued a $12.25 target price on shares of Sonus Networks in a research note on Saturday, April 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $10.50.
The stock has a 50-day moving average of $8.90 and a 200 day moving average of $8.19. The firm’s market capitalization is $425.76 million.
Sonus Networks (NASDAQ:SONS) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.05. The firm had revenue of $60.90 million for the quarter, compared to the consensus estimate of $59.67 million. During the same quarter last year, the company earned ($0.10) earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Analysts anticipate that Sonus Networks Inc. will post $0.38 EPS for the current year.
An institutional investor recently raised its position in Sonus Networks stock. Schwab Charles Investment Management Inc. increased its position in shares of Sonus Networks Inc. (NASDAQ:SONS) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,270 shares of the company’s stock after buying an additional 3,900 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.32% of Sonus Networks worth $1,129,000 as of its most recent SEC filing.
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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