Sonus Networks Hits New 1-Year High at $4.14 (SONS)
Sonus Networks (NASDAQ:SONS) shares reached a new 52-week high on Monday , Analyst Ratings Network.com reports. The company traded as high as $4.14 and last traded at $4.11, with a volume of 3,856,022 shares traded. The stock had previously closed at $3.95.
A number of analysts have recently weighed in on SONS shares. Analysts at Pacific Crest initiated coverage on shares of Sonus Networks in a research note on Monday. They set an “outperform” rating and a $6.00 price target on the stock. Separately, analysts at Barrington Research initiated coverage on shares of Sonus Networks in a research note on Friday, June 27th. They set a “market perform” rating on the stock. Finally, analysts at William Blair initiated coverage on shares of Sonus Networks in a research note on Tuesday, April 29th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $4.46.
The stock’s 50-day moving average is $3.57 and its 200-day moving average is $3.34. The company’s market cap is $1.013 billion.
Sonus Networks (NASDAQ:SONS) last announced its earnings results on Thursday, April 24th. The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.02. The company had revenue of $70.74 million for the quarter, compared to the consensus estimate of $70.08 million. During the same quarter last year, the company posted ($0.02) earnings per share. Sonus Networks’s revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that Sonus Networks will post $0.05 earnings per share for the current fiscal year.
Sonus Networks, Inc (NASDAQ:SONS) is a provider of networked solutions for communications service providers e.
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