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

Ribbon Communications Inc. (NASDAQ:RBBN) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. One research 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 objective among brokerages that have updated their coverage on the stock in the last year is $3.58.

RBBN has been the subject of a number of research reports. Citizens Jmp lowered their price objective on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating for the company in a research note on Friday, February 6th. Rosenblatt Securities reduced their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 6th. Craig Hallum reaffirmed a “buy” rating and issued a $3.00 price target on shares of Ribbon Communications in a research report on Wednesday, February 11th. Citigroup reissued an “outperform” rating on shares of Ribbon Communications in a report on Friday, February 6th. Finally, B. Riley Financial downgraded shares of Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price objective for the company. in a research note on Friday, February 6th.

Ribbon Communications Stock Down 2.3%

Shares of NASDAQ RBBN opened at $2.08 on Friday. The stock has a 50 day moving average price of $2.30 and a 200 day moving average price of $2.91. The firm has a market capitalization of $365.25 million, a price-to-earnings ratio of 9.45 and a beta of 1.06. Ribbon Communications has a 52-week low of $1.80 and a 52-week high of $4.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.19 and a current ratio of 1.44.

Ribbon Communications (NASDAQ:RBBN) last issued 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. The business had revenue of $227.32 million during the quarter, compared to analysts’ expectations of $241.35 million. Ribbon Communications had a return on equity of 26.11% and a net margin of 4.69%.The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. Sell-side analysts expect that Ribbon Communications will post 0.18 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Several hedge funds have recently modified their holdings of RBBN. AQR Capital Management LLC purchased a new stake in Ribbon Communications during the first quarter valued at approximately $805,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ribbon Communications during the first quarter worth $124,000. Jane Street Group LLC lifted its stake in shares of Ribbon Communications by 436.9% during the first quarter. Jane Street Group LLC now owns 101,211 shares of the communications equipment provider’s stock worth $397,000 after buying an additional 82,361 shares during the period. Strs Ohio purchased a new stake in shares of Ribbon Communications during the first quarter valued at $69,000. Finally, Geode Capital Management LLC increased its position in shares of Ribbon Communications by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,303,256 shares of the communications equipment provider’s stock valued at $9,238,000 after acquiring an additional 169,402 shares during the period. 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.