Sonus Networks, Inc. (SONS) Upgraded to Strong-Buy by Zacks Investment Research
Sonus Networks, Inc. (NASDAQ:SONS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday. The firm presently has a $8.25 target price on the communications equipment provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.84% from the stock’s current price.
According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “
Other analysts also recently issued reports about the company. William Blair reiterated a “buy” rating on shares of Sonus Networks in a research report on Friday, October 13th. DA Davidson upgraded Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Monday, August 7th. Northland Securities set a $10.00 target price on Sonus Networks and gave the stock a “buy” rating in a research report on Tuesday, July 4th. B. Riley reiterated a “neutral” rating and set a $7.75 target price on shares of Sonus Networks in a research report on Sunday, July 2nd. Finally, Cowen and Company reiterated a “sell” rating on shares of Sonus Networks in a research report on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.64.
Sonus Networks (NASDAQ SONS) traded up 1.07% during midday trading on Thursday, reaching $7.58. 208,504 shares of the company were exchanged. The firm’s market capitalization is $376.62 million. Sonus Networks has a 52 week low of $5.51 and a 52 week high of $8.64. The company has a 50-day moving average of $7.42 and a 200 day moving average of $7.31.
Sonus Networks (NASDAQ:SONS) last released its earnings results 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 6.18% and a negative net margin of 12.15%. The business had revenue of $55.70 million during the quarter, compared to the consensus estimate of $53.93 million. During the same period last year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts predict that Sonus Networks will post $0.25 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of SONS. JPMorgan Chase & Co. grew its stake in Sonus Networks by 2,607.2% in the first quarter. JPMorgan Chase & Co. now owns 1,018,573 shares of the communications equipment provider’s stock valued at $6,713,000 after purchasing an additional 980,948 shares during the last quarter. Boston Partners purchased a new position in Sonus Networks in the second quarter valued at about $4,581,000. First Trust Advisors LP grew 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 valued at $30,603,000 after purchasing an additional 580,597 shares during the last quarter. Dimensional Fund Advisors LP grew 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 valued at $23,439,000 after purchasing an additional 444,006 shares during the last quarter. Finally, Neuberger Berman Group LLC grew 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 valued at $17,890,000 after purchasing an additional 390,614 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.
Sonus Networks Company Profile
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.
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