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

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

Several other analysts also recently weighed in on RBBN. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a research note on Monday, December 30th. Northland Securities boosted their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ribbon Communications has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Up 10.9 %

Shares of RBBN stock traded up $0.47 during trading hours on Thursday, hitting $4.80. 1,352,196 shares of the company were exchanged, compared to its average volume of 465,086. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The business’s 50-day simple moving average is $4.07 and its two-hundred day simple moving average is $3.63. Ribbon Communications has a one year low of $2.46 and a one year high of $5.25. The stock has a market capitalization of $842.53 million, a price-to-earnings ratio of -14.93 and a beta of 1.11.

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, beating the consensus estimate 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%. Sell-side analysts predict that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Institutional Trading of Ribbon Communications

A number of hedge funds have recently made changes to their positions in RBBN. AQR Capital Management LLC acquired a new stake in shares of Ribbon Communications during the 2nd quarter valued at $137,000. Sanctuary Advisors LLC bought a new position in shares of Ribbon Communications during the 2nd quarter valued at $132,000. SG Americas Securities LLC lifted its position in Ribbon Communications by 81.3% during the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 15,604 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ribbon Communications by 19.1% during the third quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 20,826 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Ribbon Communications by 59.4% in the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock valued at $1,640,000 after purchasing an additional 188,077 shares during 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.