Sonus Networks Inc. (SONS) Upgraded to “Hold” at TheStreet

Sonus Networks Inc. (NASDAQ:SONS) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

SONS has been the subject of several other research reports. B. Riley reaffirmed a “buy” rating and set a $12.25 target price on shares of Sonus Networks in a research note on Thursday. DA Davidson began coverage on Sonus Networks in a research note on Wednesday, July 20th. They set a “buy” rating and a $12.00 target price for the company. Zacks Investment Research cut Sonus Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, William Blair reaffirmed a “hold” rating on shares of Sonus Networks in a research note on Tuesday, June 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $10.75.

Sonus Networks (NASDAQ:SONS) traded down 8.42% on Wednesday, hitting $8.59. 1,083,500 shares of the stock were exchanged. The company’s market cap is $425.99 million. The company’s 50-day moving average is $8.85 and its 200-day moving average is $7.76. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $60.90 million for the quarter, compared to analyst estimates of $59.67 million. During the same period last year, the business posted ($0.10) earnings per share. Sonus Networks’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts predict that Sonus Networks will post $0.36 earnings per share for the current year.

Several institutional investors recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in Sonus Networks by 2.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 158,270 shares of the company’s stock worth $1,129,000 after buying an additional 3,900 shares during the period. Geode Capital Management LLC raised its position in Sonus Networks by 1.4% in the first quarter. Geode Capital Management LLC now owns 336,244 shares of the company’s stock worth $2,531,000 after buying an additional 4,593 shares during the period. Springbok Capital Management LLC raised its position in Sonus Networks by 42.0% in the first quarter. Springbok Capital Management LLC now owns 23,125 shares of the company’s stock worth $174,000 after buying an additional 6,841 shares during the period. BlackRock Group LTD raised its position in Sonus Networks by 44.4% in the first quarter. BlackRock Group LTD now owns 23,011 shares of the company’s stock worth $173,000 after buying an additional 7,071 shares during the period. Finally, First Midwest Bank Trust Division raised its position in Sonus Networks by 43.8% in the second quarter. First Midwest Bank Trust Division now owns 25,580 shares of the company’s stock worth $222,000 after buying an additional 7,795 shares during the period.

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.