Cowen and Company reiterated their sell rating on shares of Sonus Networks, Inc. (NASDAQ:SONS) in a research report released on Tuesday.

Several other research analysts also recently weighed in on SONS. B. Riley restated a neutral rating and issued a $7.75 price target on shares of Sonus Networks in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Sonus Networks from a hold rating to a buy rating and set a $7.75 price target for the company in a research note on Wednesday, August 9th. William Blair restated a buy rating on shares of Sonus Networks in a research note on Friday, October 13th. DA Davidson upgraded Sonus Networks from a neutral rating to a buy rating and set a $8.50 price target for the company in a research note on Monday, August 7th. Finally, BidaskClub downgraded Sonus Networks from a sell rating to a strong sell rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Sonus Networks currently has an average rating of Hold and a consensus price target of $8.57.

Sonus Networks (NASDAQ:SONS) traded up 1.53% during trading on Tuesday, hitting $7.30. 19,552 shares of the stock were exchanged. Sonus Networks has a 1-year low of $5.51 and a 1-year high of $8.64. The company has a 50-day moving average price of $7.36 and a 200 day moving average price of $7.30. The firm’s market capitalization is $362.71 million.

Sonus Networks (NASDAQ:SONS) last released its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. The company had revenue of $55.70 million during the quarter, compared to analyst estimates of $53.93 million. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. Equities analysts predict that Sonus Networks will post $0.25 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of SONS. The Manufacturers Life Insurance Company boosted its holdings in Sonus Networks by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 39,957 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 1,692 shares in the last quarter. Engine Capital Management LLC boosted its holdings in Sonus Networks by 2,521.9% in the second quarter. Engine Capital Management LLC now owns 262,194 shares of the communications equipment provider’s stock worth $1,951,000 after acquiring an additional 252,194 shares in the last quarter. State Street Corp boosted its holdings in Sonus Networks by 4.0% in the second quarter. State Street Corp now owns 915,014 shares of the communications equipment provider’s stock worth $6,807,000 after acquiring an additional 34,842 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Sonus Networks by 18.9% in the second quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock worth $189,000 after acquiring an additional 4,033 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Sonus Networks by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock worth $23,439,000 after acquiring an additional 444,006 shares in the last quarter. 68.64% of the stock is currently owned by 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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