Sonus Networks Receives New Coverage from Analysts at Pacific Crest (SONS)
Analysts at Pacific Crest assumed coverage on shares of Sonus Networks (NASDAQ:SONS) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $6.00 price target on the stock. Pacific Crest’s price objective indicates a potential upside of 51.90% from the stock’s previous close.
The analysts wrote, “outperform”
Several other analysts have also recently commented on the stock. 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. 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Sonus Networks has an average rating of “Buy” and a consensus price target of $4.46.
Shares of Sonus Networks (NASDAQ:SONS) traded up 4.43% during mid-day trading on Monday, hitting $4.125. 3,411,560 shares of the company’s stock traded hands. Sonus Networks has a 52-week low of $2.68 and a 52-week high of $3.98. The stock has a 50-day moving average of $3.57 and a 200-day moving average of $3.34. The company’s market cap is $1.022 billion.
Sonus Networks (NASDAQ:SONS) last released its earnings data on Thursday, April 24th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Sonus Networks will post $0.05 EPS 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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