Northland Securities Issues Positive Forecast for Ribbon Communications (NASDAQ:RBBN) Stock Price

Ribbon Communications (NASDAQ:RBBN - Free Report) had its target price raised by Northland Securities from $5.50 to $6.00 in a research report report published on Thursday morning,Benzinga reports. Northland Securities currently has an outperform rating on the communications equipment provider's stock.

Separately, Rosenblatt Securities reissued a "buy" rating and set a $5.00 price objective on shares of Ribbon Communications in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $5.88.

Ribbon Communications Trading Up 3.8 %

RBBN traded up $0.15 during trading on Thursday, hitting $4.05. 859,041 shares of the stock traded hands, compared to its average volume of 368,825. The firm has a market capitalization of $710.31 million, a P/E ratio of -12.66 and a beta of 1.14. Ribbon Communications has a 12-month low of $2.46 and a 12-month high of $4.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The firm has a 50-day moving average of $3.79 and a 200 day moving average of $3.40.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates 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 prior year, the company posted $0.03 earnings per share. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts anticipate that Ribbon Communications will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in Ribbon Communications during the 3rd quarter valued at about $34,000. MQS Management LLC purchased a new stake in shares of Ribbon Communications in the second quarter worth $100,000. SG Americas Securities LLC increased its holdings in shares of Ribbon Communications by 81.3% during the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider's stock valued at $113,000 after acquiring an additional 15,604 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Ribbon Communications in the 2nd quarter worth about $137,000. Finally, Sanctuary Advisors LLC bought a new position in Ribbon Communications in the 2nd quarter worth about $132,000. 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.