Brokerages Set Ribbon Communications Inc. (NASDAQ:RBBN) Price Target at $3.58

Ribbon Communications Inc. (NASDAQ:RBBN) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.58.

Several equities research analysts recently weighed in on RBBN shares. Citizens Jmp cut their price objective on Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, February 6th. Rosenblatt Securities lowered their target price on Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, February 6th. B. Riley Financial lowered Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 target price for the company. in a research report on Friday, February 6th. Citigroup reaffirmed an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ribbon Communications in a research report on Thursday, January 22nd.

Ribbon Communications Trading Up 2.6%

NASDAQ RBBN opened at $2.78 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.44 and a debt-to-equity ratio of 0.72. Ribbon Communications has a twelve month low of $1.80 and a twelve month high of $4.29. The company has a market cap of $487.91 million, a price-to-earnings ratio of 12.64 and a beta of 1.07. The business’s fifty day moving average is $2.30 and its 200 day moving average is $2.75.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.48. Ribbon Communications had a return on equity of 26.11% and a net margin of 4.69%.The company had revenue of $227.32 million for the quarter, compared to the consensus estimate of $241.35 million. During the same quarter last year, the business posted $0.16 EPS. Ribbon Communications’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Ribbon Communications will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in Ribbon Communications during the 3rd quarter worth $29,000. Kathmere Capital Management LLC bought a new position in Ribbon Communications during the 4th quarter worth $29,000. Indivisible Partners bought a new position in Ribbon Communications during the 4th quarter worth $30,000. Mackenzie Financial Corp bought a new position in Ribbon Communications during the 4th quarter worth $31,000. Finally, DGS Capital Management LLC bought a new position in Ribbon Communications during the 4th quarter worth $36,000. 70.92% of the stock is owned by 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.