Rosenblatt Securities Reiterates "Buy" Rating for Ribbon Communications (NASDAQ:RBBN)

Rosenblatt Securities reaffirmed their buy rating on shares of Ribbon Communications (NASDAQ:RBBN - Free Report) in a research note released on Monday,Benzinga reports. They currently have a $5.50 price target on the communications equipment provider's stock.

Separately, Northland Securities boosted their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $6.00.

Ribbon Communications Stock Performance

Shares of RBBN stock traded up $0.05 during mid-day trading on Monday, reaching $4.15. The stock had a trading volume of 309,628 shares, compared to its average volume of 368,444. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. Ribbon Communications has a 1-year low of $2.46 and a 1-year high of $4.39. The firm has a market cap of $727.84 million, a price-to-earnings ratio of -12.97 and a beta of 1.14. The business's fifty day moving average is $3.93 and its 200-day moving average is $3.47.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share 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 business had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. During the same quarter last year, the company posted $0.03 EPS. Ribbon Communications's quarterly revenue was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Ribbon Communications will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

Institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Ribbon Communications during the third quarter valued at $34,000. MQS Management LLC purchased a new stake in shares of Ribbon Communications during the 2nd quarter worth about $100,000. SG Americas Securities LLC grew its position in shares of Ribbon Communications by 81.3% during the 3rd 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 during the period. Sanctuary Advisors LLC purchased a new position in shares of Ribbon Communications in the 2nd quarter valued at about $132,000. Finally, AQR Capital Management LLC acquired a new position in Ribbon Communications in the 2nd quarter worth about $137,000. 70.92% of the stock is 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.