Ribbon Communications Inc. (NASDAQ:RBBN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.5167.

RBBN has been the topic of several research reports. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. B. Riley Financial upgraded shares of Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 target price for the company in a research note on Wednesday, July 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th. Rosenblatt Securities lowered their price target on Ribbon Communications from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Finally, CL King set a $3.30 price target on Ribbon Communications in a report on Wednesday, July 29th.

Institutional Trading of Ribbon Communications

A number of institutional investors and hedge funds have recently modified their holdings of RBBN. State Street Corp raised its stake in shares of Ribbon Communications by 0.3% in the fourth quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock valued at $6,047,000 after purchasing an additional 5,280 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Ribbon Communications by 5.3% during the third quarter. Alliancebernstein L.P. now owns 119,317 shares of the communications equipment provider’s stock worth $453,000 after buying an additional 6,000 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Ribbon Communications by 65.8% during the third quarter. Susquehanna Fundamental Investments LLC now owns 18,401 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 7,301 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Ribbon Communications by 453.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 8,213 shares during the period. Finally, Prelude Capital Management LLC increased its holdings in Ribbon Communications by 38.3% in the 3rd quarter. Prelude Capital Management LLC now owns 32,838 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 9,100 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Trading Up 0.5%

Shares of Ribbon Communications stock opened at $2.04 on Tuesday. Ribbon Communications has a 1 year low of $1.80 and a 1 year high of $4.24. The company’s fifty day simple moving average is $2.20 and its 200-day simple moving average is $2.37. The company has a market cap of $364.80 million, a price-to-earnings ratio of 25.50 and a beta of 1.36. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%. The company had revenue of $192.34 million for the quarter, compared to analyst estimates of $189.99 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. Ribbon Communications’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, sell-side analysts expect that Ribbon Communications will post -0.05 EPS for the current year.

About Ribbon Communications

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.