Sonus Networks, Inc. (NASDAQ:SONS) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $8.50 price objective on the communications equipment provider’s stock. DA Davidson’s target price would suggest a potential upside of 34.49% from the stock’s previous close.

Several other equities research analysts have also weighed in on SONS. B. Riley reissued a “neutral” rating and issued a $7.75 price objective on shares of Sonus Networks in a report on Tuesday, June 27th. Cowen and Company reissued a “sell” rating and issued a $5.00 price objective on shares of Sonus Networks in a report on Friday. BidaskClub lowered Sonus Networks from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. ValuEngine lowered Sonus Networks from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Northland Securities set a $10.00 target price on Sonus Networks and gave the company a “buy” rating in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.71.

Shares of Sonus Networks (NASDAQ:SONS) opened at 6.32 on Monday. The company’s market cap is $312.98 million. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $9.05. The stock has a 50 day moving average of $7.53 and a 200-day moving average of $6.98.

Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. Sonus Networks had a negative return on equity of 6.07% and a negative net margin of 12.15%. The company had revenue of $55.70 million during the quarter, compared to analyst estimates of $53.93 million. During the same quarter last year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts forecast that Sonus Networks will post $0.23 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the stock. Capital Investment Advisors LLC acquired a new stake in shares of Sonus Networks during the second quarter worth about $106,000. PEAK6 Investments L.P. increased its stake in Sonus Networks by 69.1% in the first quarter. PEAK6 Investments L.P. now owns 18,265 shares of the communications equipment provider’s stock worth $120,000 after buying an additional 7,465 shares during the last quarter. Federated Investors Inc. PA increased its stake in Sonus Networks by 26.1% in the second quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock worth $149,000 after buying an additional 4,133 shares during the last quarter. Trexquant Investment LP purchased a new stake in Sonus Networks during the first quarter worth $161,000. Finally, American International Group Inc. increased its stake in Sonus Networks by 7.0% in the first quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 1,930 shares during the last quarter. Hedge funds and other institutional investors own 64.73% of the company’s stock.

About Sonus Networks

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.

Analyst Recommendations for Sonus Networks (NASDAQ:SONS)

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