William Blair reissued their buy rating on shares of Sonus Networks, Inc. (NASDAQ:SONS) in a report released on Friday morning.

“We believe third-quarter revenue and margin outperformance is being driven by strength at a large tier-1 North American carrier —believed to be Verizon (VZ $48.35; Market Perform)—for a software-based virtualized SBC (vSBC) rollout used in a major VoL TE migration (and a competitive displacement) announced last quarter . Non-GAAP gross margin registered 75% this quarter , which came in well above our estimate of 71%, leading to EPS outperformance. Verizon showed up as a 16% customer (at $12 million) in the quarter . In addition, AT&T (T $35.83; Market Perform) registered 11% of revenue ($8.2 million) during the quarter , after being missing in action in the first quarter of the year and contributing 12% of revenue ($6.7 million) in the second quarter.”,” William Blair’s analyst wrote.

Other analysts also recently issued research reports about the stock. B. Riley reissued a neutral rating and set a $7.75 target price on shares of Sonus Networks in a research report on Sunday, July 2nd. Cowen and Company reissued a sell rating and set a $5.00 target price on shares of Sonus Networks in a research report on Friday, August 4th. BidaskClub downgraded shares of Sonus Networks from a sell rating to a strong sell rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Sonus Networks from a hold rating to a buy rating and set a $7.75 target price for the company in a research report on Wednesday, August 9th. Finally, DA Davidson raised shares of Sonus Networks from a neutral rating to a buy rating and set a $8.50 target price for the company in a research report on Monday, August 7th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $8.57.

Sonus Networks (NASDAQ:SONS) opened at 7.36 on Friday. The company’s 50-day moving average is $7.36 and its 200-day moving average is $7.30. Sonus Networks has a one year low of $5.51 and a one year high of $8.64. The firm’s market cap is $365.69 million.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The business 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% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. On average, analysts forecast that Sonus Networks will post $0.25 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Sonus Networks by 16.4% during the 2nd quarter. First Trust Advisors LP now owns 4,113,269 shares of the communications equipment provider’s stock worth $30,603,000 after buying an additional 580,597 shares during the period. Vanguard Group Inc. grew its position in shares of Sonus Networks by 10.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,176,565 shares of the communications equipment provider’s stock worth $23,635,000 after buying an additional 309,553 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sonus Networks by 16.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock worth $23,439,000 after buying an additional 444,006 shares during the period. Neuberger Berman Group LLC grew its position in shares of Sonus Networks by 19.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,404,604 shares of the communications equipment provider’s stock worth $17,890,000 after buying an additional 390,614 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Sonus Networks by 60.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,637,933 shares of the communications equipment provider’s stock worth $12,186,000 after buying an additional 619,360 shares during the period. 68.64% of the stock is owned by institutional investors.

About Sonus Networks

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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