Ribbon Communications (NASDAQ:RBBN) Shares Gap Up – What’s Next?

Ribbon Communications Inc. (NASDAQ:RBBN)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $3.69, but opened at $3.99. Ribbon Communications shares last traded at $4.01, with a volume of 206,632 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RBBN. JMP Securities reiterated a “market outperform” rating and issued a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, February 13th. B. Riley lowered their price target on shares of Ribbon Communications from $7.50 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ribbon Communications presently has an average rating of “Moderate Buy” and an average target price of $5.88.

Ribbon Communications Price Performance

The firm’s fifty day moving average price is $3.49 and its 200-day moving average price is $3.92. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The stock has a market cap of $708.82 million, a P/E ratio of -12.55 and a beta of 1.31.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $181.28 million for the quarter, compared to analysts’ expectations of $191.66 million. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Analysts forecast that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Walleye Capital LLC bought a new stake in shares of Ribbon Communications in the fourth quarter valued at approximately $43,000. Polymer Capital Management US LLC purchased a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $55,000. Penn Capital Management Company LLC purchased a new position in shares of Ribbon Communications during the 4th quarter worth $56,000. Allianz Asset Management GmbH bought a new stake in shares of Ribbon Communications in the 1st quarter worth about $57,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Ribbon Communications in the 4th quarter worth approximately $59,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

About Ribbon Communications

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.