Rosenblatt Securities Boosts Ribbon Communications (NASDAQ:RBBN) Price Target to $6.00

Ribbon Communications (NASDAQ:RBBN - Free Report) had its target price increased by Rosenblatt Securities from $5.50 to $6.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the communications equipment provider's stock.

Several other research analysts also recently issued reports on the company. Wall Street Zen downgraded Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. B. Riley reduced their target price on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Ribbon Communications presently has an average rating of "Moderate Buy" and a consensus price target of $6.00.

Ribbon Communications Price Performance

NASDAQ RBBN traded down $0.36 during trading on Thursday, hitting $3.89. 1,551,534 shares of the company's stock were exchanged, compared to its average volume of 451,153. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.86. The company has a market cap of $686.74 million, a PE ratio of -15.56 and a beta of 1.36. Ribbon Communications has a fifty-two week low of $2.75 and a fifty-two week high of $5.38. The stock's 50 day moving average price is $3.87 and its two-hundred day moving average price is $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 positive return on equity of 6.97% and a negative net margin of 5.14%. 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. The firm's revenue was up 14.5% compared to the same quarter last year. Research analysts expect that Ribbon Communications will post 0.18 EPS for the current year.

Institutional Trading of Ribbon Communications

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in Ribbon Communications by 323.1% in the fourth quarter. Russell Investments Group Ltd. now owns 158,108 shares of the communications equipment provider's stock valued at $658,000 after acquiring an additional 120,743 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Ribbon Communications by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock valued at $261,000 after acquiring an additional 4,978 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock valued at $30,793,000 after acquiring an additional 295,524 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 302,039 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ribbon Communications by 33.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 476,868 shares of the communications equipment provider's stock worth $1,984,000 after buying an additional 119,266 shares in the last quarter. 70.92% of the stock is currently owned by 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.