Rosenblatt Securities Reaffirms Buy Rating for Ribbon Communications (NASDAQ:RBBN)

Rosenblatt Securities reaffirmed their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report sent to investors on Thursday morning, Benzinga reports. Rosenblatt Securities currently has a $5.00 price objective on the communications equipment provider’s stock.

Several other research analysts also recently commented on the company. JMP Securities began coverage on Ribbon Communications in a research note on Monday, April 29th. They issued a mkt outperform rating and a $6.00 price objective on the stock. B. Riley lifted their target price on Ribbon Communications from $6.00 to $6.50 and gave the company a buy rating in a research note on Thursday, April 25th.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $3.25 on Thursday. The stock’s 50-day simple moving average is $3.26 and its two-hundred day simple moving average is $3.12. Ribbon Communications has a 52-week low of $1.78 and a 52-week high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, July 24th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ribbon Communications had a positive return on equity of 5.21% and a negative net margin of 6.68%. The company had revenue of $192.62 million during the quarter, compared to the consensus estimate of $203.05 million. During the same period last year, the business earned $0.01 EPS. Equities analysts anticipate that Ribbon Communications will post 0.14 earnings per share for the current year.

Institutional Trading of Ribbon Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in Ribbon Communications during the 1st quarter valued at approximately $32,000. Brown Advisory Inc. purchased a new position in Ribbon Communications during the 4th quarter valued at approximately $33,000. Gladius Capital Management LP purchased a new position in Ribbon Communications during the 2nd quarter valued at approximately $34,000. Vestmark Advisory Solutions Inc. purchased a new position in Ribbon Communications during the 4th quarter valued at approximately $40,000. Finally, NewEdge Wealth LLC purchased a new position in Ribbon Communications during the 4th quarter valued at approximately $40,000. Institutional investors own 70.92% of the company’s stock.

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.