Ribbon Communications (NASDAQ:RBBN) Shares Gap Up - Should You Buy?

Shares of Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $3.69, but opened at $3.99. Ribbon Communications shares last traded at $4.01, with a volume of 206,632 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBBN shares. JMP Securities restated a "market outperform" rating and set a $6.00 price target on shares of Ribbon Communications in a report on Thursday, February 13th. B. Riley dropped their price objective on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Ribbon Communications in a research note on Wednesday, April 30th. Finally, Wall Street Zen lowered Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Ribbon Communications has an average rating of "Moderate Buy" and a consensus price target of $5.88.

Ribbon Communications Price Performance

The stock's 50-day moving average is $3.53 and its 200 day moving average is $3.93. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The company has a market cap of $695.58 million, a PE ratio of -12.31 and a beta of 1.32.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The company had revenue of $181.28 million for the quarter, compared to analyst estimates of $191.66 million. During the same quarter last year, the company earned ($0.01) EPS. The business's revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Ribbon Communications by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider's stock worth $219,000 after buying an additional 2,288 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Ribbon Communications by 2.7% during the fourth quarter. Ameriprise Financial Inc. now owns 136,621 shares of the communications equipment provider's stock worth $568,000 after purchasing an additional 3,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ribbon Communications by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock worth $261,000 after purchasing an additional 4,978 shares in the last quarter. Worth Venture Partners LLC increased its holdings in shares of Ribbon Communications by 11.0% in the first quarter. Worth Venture Partners LLC now owns 50,564 shares of the communications equipment provider's stock valued at $198,000 after purchasing an additional 5,000 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Ribbon Communications by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider's stock worth $107,000 after acquiring an additional 8,485 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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.