Ribbon Communications (NASDAQ:RBBN) Raised to Strong-Buy at StockNews.com

Ribbon Communications (NASDAQ:RBBN) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

A number of other research firms have also recently weighed in on RBBN. Rosenblatt Securities restated a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a research note on Monday, December 30th. Northland Securities raised their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $6.00 price target on shares of Ribbon Communications in a research note on Thursday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $5.13 on Friday. The company has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $3.66. Ribbon Communications has a one year low of $2.46 and a one year high of $5.26. The stock has a market cap of $899.70 million, a P/E ratio of -16.03 and a beta of 1.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. As a group, equities analysts predict that Ribbon Communications will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of RBBN. Intech Investment Management LLC bought a new position in Ribbon Communications during the third quarter worth about $34,000. Walleye Capital LLC bought a new position in shares of Ribbon Communications during the fourth quarter worth approximately $43,000. Polymer Capital Management US LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at approximately $55,000. Penn Capital Management Company LLC bought a new stake in shares of Ribbon Communications in the fourth quarter valued at approximately $56,000. Finally, Renaissance Technologies LLC acquired a new stake in Ribbon Communications during the fourth quarter worth approximately $59,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.