Ribbon Communications (NASDAQ:RBBN) Given Neutral Rating at Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN)‘s stock had its “neutral” rating restated by Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $2.20 target price on the communications equipment provider’s stock, down from their previous target price of $3.50. Rosenblatt Securities’ price objective points to a potential upside of 10.00% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th. B. Riley Financial upgraded Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target for the company in a research report on Wednesday, July 29th. Finally, CL King set a $3.30 target price on shares of Ribbon Communications in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.30.

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $2.00 on Tuesday. The company has a market capitalization of $357.65 million, a P/E ratio of 25.00 and a beta of 1.36. The business’s 50 day moving average is $2.09 and its two-hundred day moving average is $2.35. 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 $1.80 and a 12-month high of $4.09.

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

Institutional Investors Weigh In On Ribbon Communications

A number of institutional investors and hedge funds have recently made changes to their positions in RBBN. AXQ Capital LP acquired a new position in shares of Ribbon Communications in the 2nd quarter worth approximately $25,000. Canada Pension Plan Investment Board acquired a new stake in Ribbon Communications in the 2nd quarter valued at approximately $27,000. Y Intercept Hong Kong Ltd acquired a new stake in Ribbon Communications in the 1st quarter valued at approximately $26,000. DGS Capital Management LLC acquired a new stake in Ribbon Communications in the 4th quarter valued at approximately $36,000. Finally, NewEdge Wealth LLC purchased a new stake in Ribbon Communications in the first quarter valued at approximately $34,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

About Ribbon Communications

Ribbon Communications Inc (NASDAQ: RBBN) provides communications technology for telecommunications service providers, enterprises and government organizations. The company develops software, hardware and related services that help customers build, operate and secure voice, video and data networks across cloud, IP and optical environments.

Its portfolio includes session border controllers, communications platforms, voice and unified communications solutions, network transformation software, signaling and routing products, and cybersecurity capabilities.