Ribbon Communications (NASDAQ:RBBN) Shares Gap Up - Time to Buy?

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.50, but opened at $3.73. Ribbon Communications shares last traded at $4.14, with a volume of 688,767 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. B. Riley decreased their target price on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities restated a "buy" rating and set a $5.50 target price on shares of Ribbon Communications in a research note on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.88.

Ribbon Communications Stock Performance

The firm has a 50 day moving average of $3.50 and a two-hundred day moving average of $3.93. The stock has a market cap of $635.56 million, a PE ratio of -11.25 and a beta of 1.36. 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 - Get Free Report) last posted its 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 business had revenue of $181.28 million for the quarter, compared to analysts' expectations of $191.66 million. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Ribbon Communications's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. Research analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBBN. First Eagle Investment Management LLC increased its position in Ribbon Communications by 1,049.5% during the fourth quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider's stock worth $3,409,000 after buying an additional 748,090 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Ribbon Communications by 76.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,189,250 shares of the communications equipment provider's stock valued at $4,662,000 after purchasing an additional 513,985 shares during the period. Nuveen LLC acquired a new position in shares of Ribbon Communications in the first quarter valued at approximately $1,297,000. Dimensional Fund Advisors LP increased its holdings in shares of Ribbon Communications by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock valued at $26,269,000 after purchasing an additional 302,039 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Ribbon Communications by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock worth $30,793,000 after acquiring an additional 295,524 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

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.