Ribbon Communications’ (RBBN) “Buy” Rating Reiterated at Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $5.50 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 32.21% from the company’s previous close.

Separately, Northland Securities increased their price target on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.00.

Ribbon Communications Stock Performance

RBBN opened at $4.16 on Monday. The firm has a fifty day moving average price of $3.94 and a 200 day moving average price of $3.48. Ribbon Communications has a 1 year low of $2.46 and a 1 year high of $4.39. The stock has a market cap of $729.60 million, a P/E ratio of -13.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The firm had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. During the same quarter last year, the company posted $0.03 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts anticipate that Ribbon Communications will post 0.13 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after buying an additional 102,969 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ribbon Communications by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock valued at $6,830,000 after acquiring an additional 27,999 shares in the last quarter. State Street Corp boosted its stake in shares of Ribbon Communications by 0.4% in the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after acquiring an additional 7,963 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ribbon Communications by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock worth $2,479,000 after purchasing an additional 13,984 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Ribbon Communications in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Company Profile

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.