Ribbon Communications (NASDAQ:RBBN) Receives New Coverage from Analysts at Rosenblatt Securities

Rosenblatt Securities assumed coverage on shares of Ribbon Communications (NASDAQ:RBBN) in a report released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $5.00 price objective on the communications equipment provider’s stock.

Several other analysts also recently commented on the stock. JMP Securities assumed coverage on shares of Ribbon Communications in a research report on Monday, April 29th. They set a mkt outperform rating and a $6.00 price objective for the company. B. Riley raised their price objective on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a buy rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $5.75.

Ribbon Communications Stock Performance

Shares of RBBN opened at $3.71 on Thursday. The business has a 50-day moving average of $3.15 and a 200-day moving average of $3.06. Ribbon Communications has a 1 year low of $1.78 and a 1 year high of $3.80.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, April 24th. The communications equipment provider reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $179.66 million during the quarter, compared to the consensus estimate of $184.22 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.32%. Sell-side analysts predict that Ribbon Communications will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

Large investors have recently modified their holdings of the company. Innealta Capital LLC bought a new position in Ribbon Communications during the 1st quarter valued at $32,000. Brown Advisory Inc. bought a new position in Ribbon Communications during the 4th quarter valued at $33,000. Vestmark Advisory Solutions Inc. bought a new position in Ribbon Communications during the 4th quarter valued at $40,000. NewEdge Wealth LLC bought a new position in Ribbon Communications during the 4th quarter valued at $40,000. Finally, BNP Paribas Financial Markets lifted its stake in Ribbon Communications by 79.1% during the 1st quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 19,346 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.