Ribbon Communications (NASDAQ:RBBN) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $5.00 price target on the communications equipment provider’s stock.

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $3.26 on Wednesday. The company has a fifty day moving average price of $3.17 and a 200-day moving average price of $3.13. The firm has a market cap of $568.97 million, a price-to-earnings ratio of -9.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. Ribbon Communications has a 1 year low of $1.78 and a 1 year high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $192.62 million during the quarter, compared to analysts’ expectations of $203.05 million. Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities research analysts predict that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

Large investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in shares of Ribbon Communications during the first quarter valued at about $32,000. Brown Advisory Inc. purchased a new stake in Ribbon Communications in the 4th quarter worth approximately $33,000. Gladius Capital Management LP bought a new position in Ribbon Communications in the 2nd quarter valued at $34,000. MQS Management LLC purchased a new position in shares of Ribbon Communications during the 2nd quarter valued at $100,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Ribbon Communications in the second quarter worth $132,000. 70.92% of the stock is 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.