Sonus Networks, Inc. (NASDAQ:SONS) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.57.

SONS has been the topic of a number of research reports. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Wednesday. BidaskClub downgraded Sonus Networks from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. B. Riley restated a “neutral” rating and set a $6.75 price target on shares of Sonus Networks in a research note on Wednesday, April 26th. ValuEngine downgraded Sonus Networks from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Northland Securities set a $10.00 price target on Sonus Networks and gave the stock a “buy” rating in a research note on Tuesday, July 4th.

Sonus Networks (NASDAQ:SONS) traded down 0.87% during midday trading on Friday, hitting $6.84. The company had a trading volume of 122,802 shares. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $8.97. The firm has a 50-day moving average price of $7.33 and a 200-day moving average price of $6.99. The company’s market cap is $339.85 million.

Sonus Networks (NASDAQ:SONS) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Sonus Networks had a negative return on equity of 6.18% and a negative net margin of 12.15%. The business had revenue of $55.70 million for the quarter, compared to the consensus estimate of $53.93 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts anticipate that Sonus Networks will post $0.25 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in Sonus Networks by 16.4% in the second quarter. First Trust Advisors LP now owns 4,113,269 shares of the communications equipment provider’s stock worth $30,603,000 after buying an additional 580,597 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sonus Networks by 10.8% in the second quarter. Vanguard Group Inc. now owns 3,176,565 shares of the communications equipment provider’s stock worth $23,635,000 after buying an additional 309,553 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Sonus Networks by 16.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock worth $23,439,000 after buying an additional 444,006 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Sonus Networks by 19.4% in the second quarter. Neuberger Berman Group LLC now owns 2,404,604 shares of the communications equipment provider’s stock worth $17,890,000 after buying an additional 390,614 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Sonus Networks by 60.8% in the second quarter. JPMorgan Chase & Co. now owns 1,637,933 shares of the communications equipment provider’s stock worth $12,186,000 after buying an additional 619,360 shares during the last quarter. 64.73% of the stock is owned by institutional investors.

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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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