Ribbon Communications’ (RBBN) “Buy” Rating Reiterated at Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a report issued on Monday,Benzinga reports. They currently have a $5.50 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 34.15% from the company’s current price.

Separately, Northland Securities upped their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Performance

Shares of NASDAQ:RBBN opened at $4.10 on Monday. The firm’s 50 day simple moving average is $3.91 and its 200-day simple moving average is $3.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. Ribbon Communications has a one year low of $2.46 and a one year high of $4.39. The firm has a market cap of $719.07 million, a PE ratio of -12.81 and a beta of 1.14.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The firm had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Ribbon Communications will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds have recently made changes to their positions in the stock. Panagora Asset Management Inc. grew its stake in Ribbon Communications by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider’s stock valued at $643,000 after purchasing an additional 4,553 shares during the last quarter. XTX Topco Ltd grew its position in shares of Ribbon Communications by 6.3% in the 2nd quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock worth $263,000 after buying an additional 4,746 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Ribbon Communications by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock worth $502,000 after acquiring an additional 6,668 shares in the last quarter. State Street Corp lifted its position in Ribbon Communications by 0.4% during the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock valued at $6,171,000 after acquiring an additional 7,963 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Ribbon Communications in the third quarter valued at approximately $34,000. 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.