Ribbon Communications (NASDAQ:RBBN) Stock Gets Price Target Trim from Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN) had its price target decreased by equities researchers at Rosenblatt Securities from $2.20 to $1.80 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the communications equipment provider’s stock. Rosenblatt Securities‘s target price suggests a potential upside of 28.57% from the stock’s current price.

Several other research firms also recently issued reports on RBBN. B. Riley Financial raised shares of Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target for the company in a research note on Wednesday, July 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Ribbon Communications in a research note on Friday, August 7th. Finally, CL King set a $3.30 price objective on Ribbon Communications in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.23.

Ribbon Communications Price Performance

Ribbon Communications stock opened at $1.40 on Wednesday. The business has a 50 day moving average of $1.77 and a 200-day moving average of $2.26. The company has a market capitalization of $250.35 million, a P/E ratio of 17.50 and a beta of 1.37. Ribbon Communications has a 1 year low of $1.28 and a 1 year high of $3.55.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Tuesday, October 27th. The communications equipment provider reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $218.71 million for the quarter, compared to analyst estimates of $221.75 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that Ribbon Communications will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RBBN. Wedbush Securities Inc. bought a new stake in shares of Ribbon Communications in the 3rd quarter valued at $45,000. Seven Mile Advisory bought a new position in Ribbon Communications during the third quarter worth $110,000. WINTON GROUP Ltd raised its stake in Ribbon Communications by 198.1% during the second quarter. WINTON GROUP Ltd now owns 149,404 shares of the communications equipment provider’s stock worth $350,000 after buying an additional 99,289 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Ribbon Communications in the second quarter valued at $448,000. Finally, AXQ Capital LP acquired a new position in Ribbon Communications in the second quarter valued at $25,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Ribbon Communications

Ribbon Communications Inc (NASDAQ: RBBN) provides communications software, networking solutions and related services for service providers, enterprises and government organizations. The company helps customers build, operate and secure voice, data and unified communications networks across cloud, IP and optical environments.

Ribbon’s offerings include session border controllers, voice and unified communications platforms, signaling and routing solutions, policy and analytics tools, and software designed to support cloud communications and 5G networks.