Rosenblatt Securities Forecasts Strong Price Appreciation for Ribbon Communications (NASDAQ:RBBN) Stock

Ribbon Communications (NASDAQ:RBBN - Free Report) had its target price hoisted by Rosenblatt Securities from $5.50 to $6.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider's stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. B. Riley decreased their price objective on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ribbon Communications presently has an average rating of "Buy" and a consensus price target of $6.00.

Ribbon Communications Stock Performance

NASDAQ RBBN traded down $0.06 during trading hours on Thursday, hitting $3.83. The company had a trading volume of 521,458 shares, compared to its average volume of 503,437. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.13 and a current ratio of 1.39. Ribbon Communications has a 1-year low of $2.75 and a 1-year high of $5.38. The company has a market cap of $676.16 million, a PE ratio of -15.32 and a beta of 1.36. The business has a 50 day moving average of $3.87 and a 200-day moving average of $3.92.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Ribbon Communications had a negative net margin of 5.14% and a positive return on equity of 6.97%. The company had revenue of $220.58 million during the quarter, compared to the consensus estimate of $213.31 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Ribbon Communications's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that Ribbon Communications will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ribbon Communications by 4.5% during 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 purchasing an additional 2,288 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in 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 raised its holdings in Ribbon Communications by 8.6% during the fourth 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 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 buying an additional 5,000 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Ribbon Communications by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider's stock valued at $107,000 after buying an additional 8,485 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other 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.