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

Shares of Ribbon Communications Inc. (NASDAQ:RBBN – Get Free Report) have received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $3.30.

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

Check Out Our Latest Stock Report on RBBN

Institutional Trading of Ribbon Communications

Several large investors have recently modified their holdings of RBBN. WINTON GROUP Ltd grew its stake in Ribbon Communications by 198.1% in the 2nd quarter. WINTON GROUP Ltd now owns 149,404 shares of the communications equipment provider’s stock valued at $350,000 after buying an additional 99,289 shares during the last quarter. Squarepoint Ops LLC bought a new position in Ribbon Communications in the 2nd quarter worth $448,000. AXQ Capital LP acquired a new position in Ribbon Communications during the 2nd quarter worth $25,000. Hsbc Holdings PLC acquired a new position in Ribbon Communications during the 2nd quarter worth $62,000. Finally, Empowered Funds LLC acquired a new position in Ribbon Communications during the 2nd quarter worth $221,000. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Price Performance

NASDAQ RBBN opened at $1.41 on Wednesday. Ribbon Communications has a fifty-two week low of $1.30 and a fifty-two week high of $4.09. The stock’s 50-day moving average is $1.84 and its two-hundred day moving average is $2.26. The firm has a market cap of $252.14 million, a P/E ratio of 3.43 and a beta of 1.37. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.03.

Ribbon Communications (NASDAQ:RBBN – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $192.34 million for the quarter, compared to the consensus estimate of $189.99 million. Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%. The business’s revenue was down 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 EPS. On average, analysts anticipate that Ribbon Communications will post -0.05 earnings per share for the current fiscal year.

Ribbon Communications Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ribbon Communications (NASDAQ:RBBN)

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