Ribbon Communications (NASDAQ:RBBN) Given New $6.00 Price Target at Northland Securities

Ribbon Communications (NASDAQ:RBBN) had its price objective boosted by Northland Securities from $5.50 to $6.00 in a research report released on Thursday,Benzinga reports. Northland Securities currently has an outperform rating on the communications equipment provider’s stock.

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of Ribbon Communications in a research note on Wednesday, September 25th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.88.

Ribbon Communications Trading Up 2.7 %

RBBN traded up $0.11 on Thursday, hitting $4.16. The company had a trading volume of 220,381 shares, compared to its average volume of 368,179. The company has a market cap of $729.60 million, a PE ratio of -13.00 and a beta of 1.14. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The business’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.41. Ribbon Communications has a 12-month low of $2.46 and a 12-month high of $4.31.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $212.17 million. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Equities research analysts expect that Ribbon Communications will post 0.13 EPS for the current year.

Institutional Trading of Ribbon Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock valued at $553,000 after buying an additional 102,969 shares in the last quarter. Geode Capital Management LLC boosted its stake in Ribbon Communications by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after buying an additional 27,999 shares during the last quarter. State Street Corp grew its holdings in Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock valued at $6,171,000 after buying an additional 7,963 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ribbon Communications by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock worth $2,479,000 after acquiring an additional 13,984 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Ribbon Communications during the 3rd quarter valued at about $34,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

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.