Rosenblatt Securities Reaffirms "Neutral" Rating for Ribbon Communications (NASDAQ:RBBN)

Key Points

• Rosenblatt Securities maintained a “Neutral” rating on Ribbon Communications but lowered its price target to $2.20 from $3.50, implying approximately 10% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: four analysts rate the stock Buy, one Hold, and one Sell, resulting in a “Moderate Buy” consensus and an average price target of $3.30.
• Ribbon Communications reported quarterly revenue of $192.34 million, above expectations, but its $0.03-per-share loss missed estimates and revenue declined 13% year over year.

Ribbon Communications (NASDAQ:RBBN - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $2.20 price objective on the communications equipment provider's stock, down from their previous price objective of $3.50. Rosenblatt Securities' price target would suggest a potential upside of 10.00% from the company's previous close.

RBBN has been the subject of a number of other reports. CL King set a $3.30 price target on shares of Ribbon Communications in a report on Wednesday, July 29th. B. Riley Financial upgraded shares of Ribbon Communications from a "neutral" rating to a "buy" rating and set a $3.30 price objective on the stock in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ribbon Communications in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $3.30.

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $2.00 on Tuesday. The firm has a fifty day simple moving average of $2.09 and a two-hundred day simple moving average of $2.35. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.82. Ribbon Communications has a twelve month low of $1.80 and a twelve month high of $4.09. The company has a market capitalization of $357.65 million, a PE ratio of 25.00 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.The company had revenue of $192.34 million during the quarter, compared to analysts' expectations of $189.99 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The firm's quarterly revenue was down 13.0% on a year-over-year basis. Research analysts expect that Ribbon Communications will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBBN. AXQ Capital LP bought a new stake in shares of Ribbon Communications during the second quarter valued at approximately $25,000. Canada Pension Plan Investment Board purchased a new position in Ribbon Communications during the 2nd quarter valued at about $27,000. Y Intercept Hong Kong Ltd purchased a new stake in Ribbon Communications in the first quarter worth about $26,000. DGS Capital Management LLC purchased a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $36,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of Ribbon Communications in the 1st quarter worth approximately $34,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc NASDAQ: RBBN provides communications technology for telecommunications service providers, enterprises and government organizations. The company develops software, hardware and related services that help customers build, operate and secure voice, video and data networks across cloud, IP and optical environments.

Its portfolio includes session border controllers, communications platforms, voice and unified communications solutions, network transformation software, signaling and routing products, and cybersecurity capabilities.

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