Sonus Networks Stock Rating Upgraded by Barrington Research (SONS)
Sonus Networks (NASDAQ:SONS) was upgraded by analysts at Barrington Research from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Sonus Networks from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $3.50 price target on the stock. Separately, analysts at Northland Securities reiterated an “outperform” rating on shares of Sonus Networks in a research note on Monday, July 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $4.48.
In other Sonus Networks news, CFO Mark T. Greenquist acquired 15,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 4th. The shares were purchased at an average price of $3.59 per share, for a total transaction of $53,850.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Sonus Networks (NASDAQ:SONS) traded up 1.81% on Friday, hitting $3.655. 298,208 shares of the company’s stock traded hands. Sonus Networks has a one year low of $2.68 and a one year high of $4.25. The stock’s 50-day moving average is $3.82 and its 200-day moving average is $3.49. The company’s market cap is $902.0 million.
Sonus Networks (NASDAQ:SONS) last announced its earnings results on Wednesday, July 30th. The company reported $0.02 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.01 earnings per share. Sonus Networks’s revenue was up 9.2% compared to the same quarter last year. Analysts expect that Sonus Networks will post $0.07 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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