Ribbon Communications (NASDAQ:RBBN) Upgraded at StockNews.com

StockNews.com upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a buy rating to a strong-buy rating in a report issued on Thursday morning.

A number of other equities research analysts have also recently commented on RBBN. Northland Securities increased their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. JMP Securities reaffirmed a “market outperform” rating and set a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a research note on Monday, December 30th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Price Performance

Shares of NASDAQ RBBN opened at $3.95 on Thursday. The stock has a market cap of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23. Ribbon Communications has a 52 week low of $2.47 and a 52 week high of $5.38. The company’s 50-day moving average price is $4.27 and its 200 day moving average price is $3.85. 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) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. As a group, research analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of Ribbon Communications in the third quarter worth approximately $34,000. Walleye Capital LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter worth approximately $43,000. Polymer Capital Management US LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter worth approximately $55,000. Penn Capital Management Company LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter worth approximately $56,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter worth approximately $59,000. 70.92% of the stock is owned by institutional investors and hedge funds.

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.