Rosenblatt Securities reaffirmed their buy rating on shares of Ribbon Communications (NASDAQ:RBBN – Free Report) in a research report report published on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $5.50 target price on the communications equipment provider’s stock.
Separately, Northland Securities upped their price target on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.00.
View Our Latest Analysis on Ribbon Communications
Ribbon Communications Stock Performance
Ribbon Communications (NASDAQ:RBBN – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The company had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same quarter in the prior year, the company earned $0.03 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts predict that Ribbon Communications will post 0.13 earnings per share for the current year.
Hedge Funds Weigh In On Ribbon Communications
Institutional investors have recently added to or reduced their stakes in the business. Paradigm Capital Management Inc. NY boosted its position in shares of Ribbon Communications by 4.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider’s stock valued at $34,698,000 after acquiring an additional 420,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ribbon Communications by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock valued at $19,012,000 after purchasing an additional 270,972 shares during the last quarter. Royce & Associates LP grew its stake in Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after buying an additional 386,518 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Ribbon Communications by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after buying an additional 27,999 shares during the last quarter. Finally, State Street Corp raised its position in shares of 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 valued at $6,171,000 after buying an additional 7,963 shares in the last quarter. 70.92% of the stock is currently owned by 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.
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