Ribbon Communications (NASDAQ:RBBN) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report released on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a $5.00 price objective on the communications equipment provider’s stock.

A number of other research analysts also recently issued reports on the stock. JMP Securities initiated coverage on shares of Ribbon Communications in a research note on Monday, April 29th. They issued a mkt outperform rating and a $6.00 price target for the company. B. Riley raised their price objective on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a buy rating in a report on Thursday, April 25th.

Ribbon Communications Stock Up 0.6 %

Shares of Ribbon Communications stock opened at $3.24 on Thursday. Ribbon Communications has a 52-week low of $1.78 and a 52-week high of $3.95. The company has a 50 day moving average of $3.26 and a 200 day moving average of $3.12. The company has a market capitalization of $563.47 million, a P/E ratio of -9.26 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Ribbon Communications had a positive return on equity of 5.21% and a negative net margin of 6.68%. The firm had revenue of $192.62 million during the quarter, compared to analysts’ expectations of $203.05 million. During the same quarter in the prior year, the firm earned $0.01 EPS. As a group, research analysts anticipate that Ribbon Communications will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Ribbon Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in Ribbon Communications during the fourth quarter worth approximately $387,000. Bailard Inc. acquired a new position in shares of Ribbon Communications in the 4th quarter valued at $257,000. Brown Advisory Inc. acquired a new position in shares of Ribbon Communications in the 4th quarter valued at $33,000. Brandes Investment Partners LP increased its holdings in shares of Ribbon Communications by 43.4% in the 4th quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock valued at $1,859,000 after acquiring an additional 193,829 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in shares of Ribbon Communications in the 4th quarter valued at $296,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.