Ribbon Communications (NASDAQ:RBBN) Earns Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Ribbon Communications (NASDAQ:RBBN - Free Report) in a research note released on Thursday morning,Benzinga reports. JMP Securities currently has a $6.00 price objective on the communications equipment provider's stock.

Several other brokerages have also recently issued reports on RBBN. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. Northland Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ribbon Communications currently has a consensus rating of "Buy" and an average price target of $6.00.

Ribbon Communications Price Performance

Shares of RBBN traded up $0.13 during mid-day trading on Thursday, hitting $5.13. The company's stock had a trading volume of 1,384,103 shares, compared to its average volume of 404,770. The firm has a 50-day simple moving average of $4.12 and a 200 day simple moving average of $3.66. The firm has a market capitalization of $899.70 million, a P/E ratio of -16.03 and a beta of 1.11. Ribbon Communications has a 1-year low of $2.46 and a 1-year high of $5.26. 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 (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. Analysts predict that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds have recently bought and sold shares of RBBN. Intech Investment Management LLC purchased a new position in Ribbon Communications during the third quarter worth $34,000. Walleye Capital LLC purchased a new position in Ribbon Communications during the fourth quarter worth $43,000. Polymer Capital Management US LLC purchased a new position in Ribbon Communications during the fourth quarter worth $55,000. Penn Capital Management Company LLC purchased a new position in Ribbon Communications during the fourth quarter worth $56,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Ribbon Communications in the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

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.