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

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $3.58.

RBBN has been the topic of several research analyst reports. B. Riley Financial restated a “neutral” rating on shares of Ribbon Communications in a report on Wednesday, April 29th. Weiss Ratings cut Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd.

Institutional Investors Weigh In On Ribbon Communications

Several large investors have recently modified their holdings of RBBN. Kathmere Capital Management LLC purchased a new stake in shares of Ribbon Communications during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its stake in Ribbon Communications by 453.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 8,213 shares during the last quarter. Indivisible Partners purchased a new position in Ribbon Communications during the 4th quarter valued at about $30,000. Mackenzie Financial Corp acquired a new position in Ribbon Communications during the fourth quarter worth about $31,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Ribbon Communications in the third quarter valued at about $41,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Shares of RBBN opened at $2.32 on Monday. The firm has a market capitalization of $408.64 million, a PE ratio of 13.65 and a beta of 1.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.37 and a quick ratio of 1.09. The company’s fifty day moving average price is $2.61 and its 200-day moving average price is $2.52. Ribbon Communications has a 1-year low of $1.80 and a 1-year high of $4.29.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Tuesday, April 28th. The communications equipment provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Ribbon Communications had a net margin of 3.80% and a return on equity of 24.14%. The business had revenue of $162.61 million during the quarter, compared to analysts’ expectations of $163.43 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts predict that Ribbon Communications will post 0.02 EPS for the current year.

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.