Ribbon Communications (NASDAQ:RBBN) Coverage Initiated at JMP Securities

Equities research analysts at JMP Securities started coverage on shares of Ribbon Communications (NASDAQ:RBBN) in a report issued on Monday, StockNewsAPI reports. The brokerage set a “mkt outperform” rating and a $6.00 price target on the communications equipment provider’s stock. JMP Securities’ target price points to a potential upside of 89.27% from the stock’s current price.

A number of other equities research analysts have also issued reports on RBBN. StockNews.com upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. B. Riley increased their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday, April 25th.

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $3.17 on Monday. The firm has a market cap of $544.38 million, a P/E ratio of -9.06 and a beta of 1.19. Ribbon Communications has a one year low of $1.78 and a one year high of $3.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.23. The firm’s 50 day moving average price is $2.96 and its 200-day moving average price is $2.71.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. As a group, equities research analysts predict that Ribbon Communications will post 0.18 EPS for the current year.

Insider Activity

In other news, EVP Dan Redington sold 23,964 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $3.09, for a total value of $74,048.76. Following the sale, the executive vice president now directly owns 101,291 shares in the company, valued at approximately $312,989.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Dan Redington sold 23,964 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $3.09, for a total value of $74,048.76. Following the transaction, the executive vice president now directly owns 101,291 shares of the company’s stock, valued at approximately $312,989.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruns H. Grayson bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the transaction, the director now directly owns 590,175 shares in the company, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last three months, insiders have bought 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RBBN. Brown Advisory Inc. purchased a new stake in shares of Ribbon Communications in the fourth quarter valued at about $33,000. Principal Financial Group Inc. purchased a new stake in Ribbon Communications during the 3rd quarter valued at approximately $35,000. NewEdge Wealth LLC purchased a new stake in Ribbon Communications during the 4th quarter valued at approximately $40,000. Vestmark Advisory Solutions Inc. purchased a new stake in Ribbon Communications during the 4th quarter valued at approximately $40,000. Finally, Caxton Associates LP purchased a new stake in Ribbon Communications during the 3rd quarter valued at approximately $41,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.