Sonus Networks Given Consensus Rating of “Buy” by Analysts (NASDAQ:SONS)
Sonus Networks (NASDAQ:SONS) has been given an average rating of “Buy” by the seven brokerages that are presently covering the stock, AnalystRatings.Net reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $4.48.
SONS has been the subject of a number of recent research reports. Analysts at Barrington Research upgraded shares of Sonus Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, August 8th. Separately, analysts at Zacks downgraded shares of Sonus Networks from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 5th. They now have a $3.50 price target on the stock. Finally, analysts at Northland Securities reiterated an “outperform” rating on shares of Sonus Networks in a research note on Monday, July 28th.
In other Sonus Networks news, CFO Mark T. Greenquist purchased 15,000 shares of the stock on the open market in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $3.59 per share, with a total value of $53,850.00. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Sonus Networks (NASDAQ:SONS) opened at 3.72 on Monday. Sonus Networks has a 1-year low of $2.68 and a 1-year high of $4.25. The stock has a 50-day moving average of $3.84 and a 200-day moving average of $3.51. The company’s market cap is $918.1 million.
Sonus Networks (NASDAQ:SONS) last released its earnings data 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.
Sonus Networks, Inc(NASDAQ:SONS) is a provider of networked solutions for communications service providers e.
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