StockNews.com upgraded shares of Ribbon Communications (NASDAQ:RBBN – Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.
Other research analysts have also issued research reports about the stock. Northland Securities raised their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a report on Monday, December 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $6.00.
Read Our Latest Stock Analysis on RBBN
Ribbon Communications Trading Up 2.3 %
Ribbon Communications (NASDAQ:RBBN – Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. On average, sell-side analysts predict that Ribbon Communications will post 0.18 EPS for the current year.
Institutional Trading of Ribbon Communications
A number of hedge funds have recently made changes to their positions in RBBN. First Eagle Investment Management LLC raised its stake in shares of Ribbon Communications by 1,049.5% during the fourth quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider’s stock valued at $3,409,000 after purchasing an additional 748,090 shares during the period. Royce & Associates LP increased its stake in shares of Ribbon Communications by 18.0% in the third 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ribbon Communications by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider’s stock worth $26,269,000 after buying an additional 302,039 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock worth $30,793,000 after buying an additional 295,524 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ribbon Communications by 62.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock worth $2,809,000 after buying an additional 258,909 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.
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.
Read More
- Five stocks we like better than Ribbon Communications
- How to Use Stock Screeners to Find Stocks
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- The Basics of Support and Resistance
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Receive News & Ratings for Ribbon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ribbon Communications and related companies with MarketBeat.com's FREE daily email newsletter.