Ribbon Communications’ (RBBN) Market Outperform Rating Reiterated at JMP Securities

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “market outperform” rating reissued by JMP Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $6.00 target price on the communications equipment provider’s stock. JMP Securities’ target price points to a potential upside of 24.90% from the company’s current price.

A number of other equities research analysts have also commented on RBBN. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities raised their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock traded up $0.47 during mid-day trading on Thursday, reaching $4.80. 1,352,196 shares of the stock were exchanged, compared to its average volume of 465,086. The company has a market cap of $842.53 million, a price-to-earnings ratio of -14.93 and a beta of 1.11. Ribbon Communications has a fifty-two week low of $2.46 and a fifty-two week high of $5.25. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The firm has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $3.63.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. On average, sell-side analysts predict that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of RBBN. SG Americas Securities LLC raised its holdings in Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 5,122 shares in the last quarter. State Street Corp raised its position in Ribbon Communications by 0.4% during the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after purchasing an additional 7,963 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Ribbon Communications in the 3rd quarter valued at about $34,000. Wells Fargo & Company MN boosted its stake in Ribbon Communications by 24.6% during the fourth quarter. Wells Fargo & Company MN now owns 59,401 shares of the communications equipment provider’s stock worth $247,000 after acquiring an additional 11,715 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ribbon Communications by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock worth $2,479,000 after acquiring an additional 13,984 shares in the last quarter. 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.