Ribbon Communications’ (RBBN) Buy Rating Reaffirmed at Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $5.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ price target suggests a potential upside of 59.24% from the company’s current price.

Ribbon Communications Price Performance

Ribbon Communications stock opened at $3.14 on Wednesday. The business’s 50 day simple moving average is $3.20 and its 200 day simple moving average is $3.13. The company has a current ratio of 1.48, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. Ribbon Communications has a 12 month low of $1.78 and a 12 month high of $3.95. The company has a market cap of $548.02 million, a price-to-earnings ratio of -8.97 and a beta of 1.09.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The business had revenue of $192.62 million for the quarter, compared to the consensus estimate of $203.05 million. During the same period in the previous year, the firm earned $0.01 EPS. Sell-side analysts forecast that Ribbon Communications will post 0.13 EPS for the current year.

Institutional Trading of Ribbon Communications

Several institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in shares of Ribbon Communications during the first quarter worth about $32,000. Brown Advisory Inc. purchased a new stake in shares of Ribbon Communications during the fourth quarter worth about $33,000. Gladius Capital Management LP purchased a new stake in shares of Ribbon Communications during the second quarter worth about $34,000. MQS Management LLC purchased a new stake in shares of Ribbon Communications during the second quarter worth about $100,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Ribbon Communications during the second quarter worth about $132,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

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.