BidaskClub lowered shares of Sonus Networks, Inc. (NASDAQ:SONS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Other analysts have also issued research reports about the stock. Northland Securities set a $10.00 price target on shares of Sonus Networks and gave the company a buy rating in a report on Tuesday, July 4th. Benchmark Co. started coverage on shares of Sonus Networks in a report on Wednesday, April 26th. They issued a buy rating and a $4.00 price target for the company. Zacks Investment Research raised shares of Sonus Networks from a hold rating to a buy rating and set a $8.75 price target for the company in a report on Saturday, April 29th. William Blair reissued a hold rating on shares of Sonus Networks in a report on Monday, May 1st. Finally, B. Riley reissued a neutral rating and issued a $6.75 price target on shares of Sonus Networks in a report on Wednesday, April 26th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Sonus Networks currently has a consensus rating of Hold and an average target price of $8.29.

Sonus Networks (NASDAQ SONS) traded down 3.91% during midday trading on Tuesday, reaching $6.88. The company’s stock had a trading volume of 446,627 shares. Sonus Networks has a 52-week low of $5.51 and a 52-week high of $9.05. The firm has a 50-day moving average price of $7.56 and a 200 day moving average price of $6.96. The stock’s market capitalization is $340.71 million.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $53.37 million during the quarter, compared to analyst estimates of $52.11 million. Sonus Networks had a negative net margin of 8.07% and a negative return on equity of 3.80%. Sonus Networks’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Equities research analysts predict that Sonus Networks will post $0.23 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Cowen Prime Services LLC raised its stake in Sonus Networks by 0.7% in the first quarter. Cowen Prime Services LLC now owns 141,931 shares of the communications equipment provider’s stock worth $935,000 after buying an additional 1,000 shares in the last quarter. American International Group Inc. raised its stake in Sonus Networks by 7.0% in the first quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 1,930 shares in the last quarter. KBC Group NV raised its stake in Sonus Networks by 3.2% in the first quarter. KBC Group NV now owns 67,142 shares of the communications equipment provider’s stock worth $442,000 after buying an additional 2,085 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Sonus Networks by 13.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 34,918 shares of the communications equipment provider’s stock worth $230,000 after buying an additional 4,238 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Sonus Networks by 4.0% in the first quarter. California Public Employees Retirement System now owns 169,900 shares of the communications equipment provider’s stock worth $1,120,000 after buying an additional 6,600 shares in the last quarter. 65.15% of the stock is owned by hedge funds and other institutional investors.

Sonus Networks Company Profile

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.

Analyst Recommendations for Sonus Networks (NASDAQ:SONS)

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