Ribbon Communications (NASDAQ:RBBN) Raised to Buy at Wall Street Zen

Key Points

• Ribbon Communications has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased confidence in the stock among analysts.
• Rosenblatt Securities has raised its price target for Ribbon from $5.50 to $6.00, while B. Riley has adjusted theirs from $7.50 to $6.00, indicating a consensus among analysts for potential growth.
• The company's latest earnings report shows a 14.5% increase in revenue year-over-year, meeting earnings expectations with $0.05 EPS and surpassing revenue estimates of $213.31 million with actual revenue of $220.58 million.

Wall Street Zen upgraded shares of Ribbon Communications (NASDAQ:RBBN - Free Report) from a hold rating to a buy rating in a research note released on Saturday.

Several other research firms have also recently issued reports on RBBN. B. Riley lowered their price objective on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Rosenblatt Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $6.00.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock traded down $0.01 on Friday, hitting $3.83. The company's stock had a trading volume of 97,209 shares, compared to its average volume of 558,647. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.38. Ribbon Communications has a 1 year low of $2.75 and a 1 year high of $5.38. The firm has a fifty day moving average price of $3.88 and a 200-day moving average price of $3.92. The company has a market capitalization of $675.27 million, a price-to-earnings ratio of -15.30 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Ribbon Communications had a positive return on equity of 7.08% and a negative net margin of 5.14%. The firm had revenue of $220.58 million during the quarter, compared to analyst estimates of $213.31 million. During the same quarter in the previous year, the business earned $0.05 EPS. Ribbon Communications's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBBN. Walleye Capital LLC acquired a new position in shares of Ribbon Communications during the 4th quarter worth approximately $43,000. Ballentine Partners LLC acquired a new position in shares of Ribbon Communications during the 2nd quarter worth approximately $44,000. Polymer Capital Management US LLC acquired a new position in shares of Ribbon Communications during the 4th quarter worth approximately $55,000. Penn Capital Management Company LLC acquired a new position in shares of Ribbon Communications during the 4th quarter worth approximately $56,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Ribbon Communications during the 1st quarter worth approximately $57,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.