Ribbon Communications Inc. (NASDAQ:RBBN) Stock Has Average Price Target of $3.30 According to Analysts

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $3.30.

Several research analysts recently commented on RBBN shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $2.20 target price (down from $3.50) on shares of Ribbon Communications in a research report on Tuesday, September 15th. B. Riley Financial raised shares of Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target on the stock in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a research note on Friday, August 7th. Finally, CL King set a $3.30 price objective on shares of Ribbon Communications in a report on Wednesday, July 29th.

Institutional Trading of Ribbon Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Ribbon Communications during the 2nd quarter worth approximately $16,723,000. Paradigm Capital Management Inc. NY acquired a new stake in Ribbon Communications in the 2nd quarter valued at $7,105,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ribbon Communications in the 2nd quarter valued at $5,179,000. First Wilshire Securities Management Inc. grew its position in Ribbon Communications by 11.0% in the first quarter. First Wilshire Securities Management Inc. now owns 1,407,178 shares of the communications equipment provider’s stock valued at $2,983,000 after acquiring an additional 139,592 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Ribbon Communications by 18.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,216,876 shares of the communications equipment provider’s stock valued at $2,580,000 after acquiring an additional 187,160 shares during the period. Institutional investors own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Shares of RBBN stock opened at $1.32 on Wednesday. The stock has a 50 day moving average of $1.86 and a two-hundred day moving average of $2.27. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. Ribbon Communications has a 12 month low of $1.30 and a 12 month high of $4.09. The company has a market capitalization of $236.05 million, a P/E ratio of 16.50 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $192.34 million for the quarter, compared to analyst estimates of $189.99 million. Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%. Ribbon Communications’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. As a group, equities analysts expect that Ribbon Communications will post -0.05 EPS for the current year.

About Ribbon Communications

Ribbon Communications Inc is a communications technology company that provides software, network infrastructure and security solutions for communications service providers, enterprises and government organizations. Its offerings are designed to support voice, video and data communications across traditional, cloud-based and next-generation networks.

The company’s portfolio includes session border controllers, media gateways, communications application software, cloud-native voice and collaboration platforms, network analytics, policy and routing solutions, and security products.