Ribbon Communications (NASDAQ:RBBN) Earns Mkt Outperform Rating from Analysts at JMP Securities

Equities research analysts at JMP Securities started coverage on shares of Ribbon Communications (NASDAQ:RBBN) in a research report issued to clients and investors on Monday, StockNewsAPI reports. The brokerage set a “mkt outperform” rating and a $6.00 price target on the communications equipment provider’s stock. JMP Securities’ target price indicates a potential upside of 90.48% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. StockNews.com raised shares of Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. B. Riley boosted their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research report on Thursday.

Ribbon Communications Trading Up 0.6 %

Shares of Ribbon Communications stock traded up $0.02 during trading on Monday, hitting $3.15. The company’s stock had a trading volume of 91,706 shares, compared to its average volume of 445,099. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00. Ribbon Communications has a 52 week low of $1.78 and a 52 week high of $3.65. The stock has a market cap of $540.95 million, a price-to-earnings ratio of -9.11 and a beta of 1.19. The stock has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $2.69.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. Equities research analysts anticipate that Ribbon Communications will post 0.18 EPS for the current fiscal year.

Insider Activity

In related news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the transaction, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other Ribbon Communications news, Director Bruns H. Grayson bought 100,000 shares of Ribbon Communications stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $2.89 per share, with a total value of $289,000.00. Following the acquisition, the director now owns 590,175 shares in the company, valued at $1,705,605.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dan Redington sold 23,964 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $3.09, for a total transaction of $74,048.76. Following the transaction, the executive vice president now directly owns 101,291 shares in the company, valued at approximately $312,989.19. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Ribbon Communications

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. purchased a new position in Ribbon Communications during the 4th quarter valued at about $33,000. Principal Financial Group Inc. purchased a new position in Ribbon Communications during the 3rd quarter valued at about $35,000. NewEdge Wealth LLC purchased a new position in Ribbon Communications in the fourth quarter worth about $40,000. Vestmark Advisory Solutions Inc. purchased a new position in Ribbon Communications in the fourth quarter worth about $40,000. Finally, Caxton Associates LP purchased a new position in Ribbon Communications in the third quarter worth about $41,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

About Ribbon Communications

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.