Ribbon Communications (NASDAQ:RBBN) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has $3.30 price target on the communications equipment provider’s stock.

RBBN has been the subject of several other reports. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Weiss Ratings cut shares of Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Rosenblatt Securities dropped their price target on shares of Ribbon Communications from $4.00 to $3.50 and set a “buy” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.52.

Ribbon Communications Price Performance

Shares of RBBN opened at $2.14 on Wednesday. The business’s fifty day moving average is $2.46 and its 200 day moving average is $2.45. Ribbon Communications has a 12-month low of $1.80 and a 12-month high of $4.24. The company has a quick ratio of 1.09, a current ratio of 1.37 and a debt-to-equity ratio of 0.77. The stock has a market cap of $376.94 million, a P/E ratio of 26.75 and a beta of 1.34.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Ribbon Communications had a net margin of 1.96% and a return on equity of 19.70%. The business had revenue of $192.34 million for the quarter, compared to the consensus estimate of $189.99 million. During the same quarter last year, the firm posted $0.05 EPS. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Ribbon Communications will post 0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Ribbon Communications by 0.3% during the 4th 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 during the last quarter. Alliancebernstein L.P. raised its stake in shares of Ribbon Communications by 5.3% during the 3rd quarter. Alliancebernstein L.P. now owns 119,317 shares of the communications equipment provider’s stock worth $453,000 after purchasing an additional 6,000 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Ribbon Communications by 65.8% in the 3rd 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 during the last quarter. Tower Research Capital LLC TRC grew its position in Ribbon Communications by 453.3% during the second 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% during the third quarter. Prelude Capital Management LLC now owns 32,838 shares of the communications equipment provider’s stock worth $125,000 after buying an additional 9,100 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

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.