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

Rosenblatt Securities reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $5.50 price target on the communications equipment provider's stock.

Several other equities analysts also recently commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. StockNews.com cut Ribbon Communications from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ribbon Communications currently has an average rating of "Moderate Buy" and a consensus price target of $5.88.

Ribbon Communications Stock Performance

Ribbon Communications stock traded up $0.01 during mid-day trading on Wednesday, reaching $3.24. 707,234 shares of the company's stock were exchanged, compared to its average volume of 407,015. The firm has a market capitalization of $570.02 million, a PE ratio of -10.13 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The business's fifty day simple moving average is $3.82 and its 200 day simple moving average is $3.97. Ribbon Communications has a one year low of $2.75 and a one year high of $5.38.

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

Hedge Funds Weigh In On Ribbon Communications

A number of large investors have recently made changes to their positions in RBBN. Walleye Capital LLC purchased a new stake in Ribbon Communications during the 4th quarter worth about $43,000. Polymer Capital Management US LLC purchased a new stake in shares of Ribbon Communications in the fourth quarter worth about $55,000. Penn Capital Management Company LLC bought a new position in shares of Ribbon Communications in the fourth quarter valued at approximately $56,000. Renaissance Technologies LLC purchased a new position in Ribbon Communications during the fourth quarter valued at approximately $59,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Ribbon Communications during the 4th quarter worth approximately $64,000. 70.92% of the stock is owned by institutional investors.

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.