Sonus Networks Lowered to “Underperform” at Zacks (SONS)
Sonus Networks (NASDAQ:SONS) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday. They currently have a $3.50 price objective on the stock. Zacks‘s price target suggests a potential downside of 3.98% from the company’s current price.
In other Sonus Networks news, CFO Mark T. Greenquist purchased 15,000 shares of the company’s stock on the open market in a transaction dated Monday, August 4th. The stock was purchased at an average cost of $3.59 per share, with a total value of $53,850.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Sonus Networks (NASDAQ:SONS) traded up 2.06% during mid-day trading on Tuesday, hitting $3.72. The stock had a trading volume of 3,581,492 shares. Sonus Networks has a 52 week low of $2.68 and a 52 week high of $4.25. The stock’s 50-day moving average is $3.81 and its 200-day moving average is $3.48. The company’s market cap is $918.1 million.
Sonus Networks (NASDAQ:SONS) last announced its earnings results on Wednesday, July 30th. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.01. The company had revenue of $75.60 million for the quarter, compared to the consensus estimate of $73.70 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts predict that Sonus Networks will post $0.07 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Northland Securities reiterated an “outperform” rating on shares of Sonus Networks in a research note on Monday, July 28th. Separately, analysts at Pacific Crest initiated coverage on shares of Sonus Networks in a research note on Monday, July 7th. They set an “outperform” rating and a $6.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $4.48.
Sonus Networks, Inc (NASDAQ:SONS) is a provider of networked solutions for communications service providers e.
To view Zacks’ full report, visit Zacks’ official website.
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