Ribbon Communications (NASDAQ:RBBN) Rating Lowered to "Buy" at StockNews.com

Ribbon Communications (NASDAQ:RBBN - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Tuesday.

Several other research analysts have also recently weighed in on RBBN. JMP Securities reaffirmed a "market outperform" rating and set a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 target price on shares of Ribbon Communications in a report on Monday, December 30th. Finally, Northland Securities upped their target price on Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $6.00.

Ribbon Communications Price Performance

RBBN stock traded down $0.01 during trading hours on Tuesday, hitting $4.72. 793,951 shares of the stock traded hands, compared to its average volume of 383,862. The stock has a 50-day simple moving average of $4.28 and a 200 day simple moving average of $3.78. Ribbon Communications has a one year low of $2.47 and a one year high of $5.38. The company has a market cap of $827.81 million, a P/E ratio of -14.75 and a beta of 1.11. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

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Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Equities analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ribbon Communications by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider's stock worth $219,000 after acquiring an additional 2,288 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Ribbon Communications by 2.7% in the 4th quarter. Ameriprise Financial Inc. now owns 136,621 shares of the communications equipment provider's stock worth $568,000 after acquiring an additional 3,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ribbon Communications by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock worth $261,000 after acquiring an additional 4,978 shares in the last quarter. SG Americas Securities LLC lifted its stake in Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock worth $166,000 after acquiring an additional 5,122 shares in the last quarter. Finally, State Street Corp lifted its stake in Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider's stock worth $6,171,000 after acquiring an additional 7,963 shares in the last quarter. 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.