Ribbon Communications (NASDAQ:RBBN) Shares Up 10.4% – Time to Buy?

Ribbon Communications Inc. (NASDAQ:RBBN) shares were up 10.4% during mid-day trading on Wednesday . The company traded as high as $3.13 and last traded at $3.1250. Approximately 1,747,059 shares were traded during mid-day trading, an increase of 94% from the average daily volume of 898,552 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citizens Jmp decreased their price objective on Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, February 6th. Northland Securities set a $4.00 price target on shares of Ribbon Communications in a research report on Friday, February 6th. Rosenblatt Securities lowered their price objective on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 6th. Citigroup reaffirmed an “outperform” rating on shares of Ribbon Communications in a research note on Friday, February 6th. Finally, Weiss Ratings lowered shares of Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.58.

Ribbon Communications Trading Up 9.9%

The firm has a 50-day moving average of $2.49 and a 200-day moving average of $2.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.09 and a current ratio of 1.37. The firm has a market capitalization of $547.62 million, a P/E ratio of 18.29 and a beta of 1.26.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $162.61 million during the quarter, compared to the consensus estimate of $163.43 million. Ribbon Communications had a return on equity of 24.14% and a net margin of 3.80%.The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts anticipate that Ribbon Communications Inc. will post 0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

A number of large investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Ribbon Communications in the first quarter valued at about $26,000. Kathmere Capital Management LLC purchased a new stake in shares of Ribbon Communications during the fourth quarter worth about $29,000. Indivisible Partners bought a new stake in shares of Ribbon Communications in the fourth quarter worth about $30,000. Mackenzie Financial Corp purchased a new position in Ribbon Communications during the 4th quarter valued at about $31,000. Finally, NewEdge Wealth LLC purchased a new position in Ribbon Communications during the 1st quarter valued at about $34,000. Institutional investors own 70.92% of the company’s stock.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.