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

Ribbon Communications Inc. (NASDAQ:RBBN) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $3.58.

Several brokerages recently issued reports on RBBN. Citigroup reiterated an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th. Citizens Jmp cut their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a research note on Friday, February 6th. Northland Securities set a $4.00 price objective on shares of Ribbon Communications in a research report on Friday, February 6th. B. Riley Financial lowered shares of Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price objective on the stock. in a report on Friday, February 6th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $3.00 target price on shares of Ribbon Communications in a research note on Wednesday, February 11th.

Ribbon Communications Price Performance

Shares of RBBN stock opened at $2.26 on Tuesday. Ribbon Communications has a 12-month low of $1.80 and a 12-month high of $4.47. The firm has a market capitalization of $396.86 million, a price-to-earnings ratio of 10.27 and a beta of 1.06. The company has a quick ratio of 1.19, a current ratio of 1.44 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average of $2.53 and a 200-day moving average of $3.14.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share for the quarter, topping 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 firm had revenue of $227.32 million for the quarter, compared to analyst estimates of $241.35 million. During the same period in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RBBN. Kennedy Capital Management LLC acquired a new stake in Ribbon Communications in the 4th quarter valued at $2,047,000. Royce & Associates LP grew its holdings in shares of Ribbon Communications by 17.2% in the 3rd quarter. Royce & Associates LP now owns 4,305,470 shares of the communications equipment provider’s stock valued at $16,361,000 after acquiring an additional 633,035 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of Ribbon Communications in the 3rd quarter valued at about $1,991,000. Arrowstreet Capital Limited Partnership increased its position in shares of Ribbon Communications by 99.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after acquiring an additional 481,276 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Ribbon Communications by 88.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 890,168 shares of the communications equipment provider’s stock worth $2,564,000 after acquiring an additional 418,967 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.