Ribbon Communications (NASDAQ:RBBN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $7.00 target price on the communications equipment provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 20.27% from the company’s current price.

According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “

Several other equities analysts have also recently commented on RBBN. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a report on Thursday, June 14th. BidaskClub raised Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 27th. Cowen raised Ribbon Communications from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 1st. Finally, ValuEngine cut Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Monday, October 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Ribbon Communications presently has a consensus rating of “Hold” and an average target price of $7.00.

NASDAQ RBBN opened at $5.82 on Thursday. Ribbon Communications has a twelve month low of $4.97 and a twelve month high of $9.05. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.04. The stock has a market cap of $710.43 million, a P/E ratio of 83.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.60.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.12. Ribbon Communications had a positive return on equity of 5.69% and a negative net margin of 16.08%. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $134.79 million. The business’s quarterly revenue was up 158.9% compared to the same quarter last year. As a group, analysts expect that Ribbon Communications will post 0.37 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Ribbon Communications in the 1st quarter valued at approximately $116,000. Jane Street Group LLC acquired a new position in Ribbon Communications in the 1st quarter valued at approximately $141,000. Rhumbline Advisers raised its holdings in Ribbon Communications by 17.0% in the 2nd quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after acquiring an additional 7,912 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Ribbon Communications in the 2nd quarter worth approximately $396,000. Finally, Swiss National Bank raised its holdings in shares of Ribbon Communications by 13.1% in the 1st quarter. Swiss National Bank now owns 91,574 shares of the communications equipment provider’s stock worth $467,000 after buying an additional 10,600 shares in the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

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