Rosenblatt Securities Cuts Ribbon Communications (NASDAQ:RBBN) Price Target to $3.50

Ribbon Communications (NASDAQ:RBBN) had its price target decreased by Rosenblatt Securities from $4.00 to $3.50 in a research report released on Wednesday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the communications equipment provider’s stock.

RBBN has been the topic of several other reports. Weiss Ratings cut shares of Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Ribbon Communications in a research report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Ribbon Communications has an average rating of “Moderate Buy” and an average price target of $3.52.

Ribbon Communications Trading Up 0.9%

Shares of NASDAQ RBBN opened at $2.14 on Wednesday. Ribbon Communications has a twelve month low of $1.80 and a twelve month high of $4.24. The firm has a market cap of $376.94 million, a PE ratio of 26.75 and a beta of 1.34. The business has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.45. The company has a quick ratio of 1.09, a current ratio of 1.37 and a debt-to-equity ratio of 0.77.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The firm had revenue of $192.34 million for the quarter, compared to the consensus estimate of $189.99 million. Ribbon Communications had a return on equity of 19.70% and a net margin of 1.96%.Ribbon Communications’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. Analysts expect that Ribbon Communications will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd purchased a new position in Ribbon Communications in the first quarter valued at about $26,000. Indivisible Partners bought a new position in Ribbon Communications in the fourth quarter worth about $30,000. Mackenzie Financial Corp purchased a new stake in shares of Ribbon Communications during the fourth quarter valued at about $31,000. NewEdge Wealth LLC purchased a new stake in shares of Ribbon Communications during the first quarter valued at about $34,000. Finally, DGS Capital Management LLC bought a new stake in shares of Ribbon Communications in the 4th quarter valued at about $36,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.