Sonus Networks Inc. (SONS) Trading Up 2.1%
Shares of Sonus Networks Inc. (NASDAQ:SONS) were up 2.1% on Thursday . The stock traded as high as $8.71 and last traded at $8.69, with a volume of 140,176 shares changing hands. The stock had previously closed at $8.51.
Several analysts have weighed in on SONS shares. Zacks Investment Research raised Sonus Networks from a “hold” rating to a “strong-buy” rating and set a $9.50 target price on the stock in a research note on Saturday, April 30th. B. Riley reaffirmed 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 reaffirmed a “hold” rating on shares of Sonus Networks in a research note on Tuesday, June 14th. DA Davidson started coverage on Sonus Networks in a research note on Wednesday, July 20th. They set a “buy” rating and a $12.00 target price on the stock. Finally, TheStreet raised Sonus Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sonus Networks currently has a consensus rating of “Hold” and an average target price of $10.50.
The company has a 50 day moving average price of $8.89 and a 200-day moving average price of $8.16. The stock’s market cap is $426.75 million.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the 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. The company’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. On average, analysts forecast that Sonus Networks Inc. will post $0.38 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Sonus Networks stock. Schwab Charles Investment Management Inc. increased its stake in shares of Sonus Networks Inc. (NASDAQ:SONS) by 2.5% during the fourth quarter, according to its most recent 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 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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