Ribbon Communications (NASDAQ:RBBN) Sets New 12-Month High – Still a Buy?

Ribbon Communications Inc. (NASDAQ:RBBN)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $5.36 and last traded at $5.32, with a volume of 184565 shares changing hands. The stock had previously closed at $5.13.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a report on Monday, December 30th. JMP Securities reiterated a “market outperform” rating and issued a $6.00 price target on shares of Ribbon Communications in a report on Thursday, February 13th. StockNews.com upgraded shares of Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, February 14th. Finally, Northland Securities increased their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ribbon Communications currently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Down 2.2 %

The firm has a market cap of $868.13 million, a price-to-earnings ratio of -15.47 and a beta of 1.11. The business’s 50 day moving average price is $4.19 and its 200 day moving average price is $3.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. On average, equities analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBBN. Intech Investment Management LLC purchased a new position in Ribbon Communications in the 3rd quarter valued at $34,000. Walleye Capital LLC purchased a new position in Ribbon Communications in the 4th quarter valued at $43,000. Polymer Capital Management US LLC purchased a new position in Ribbon Communications in the 4th quarter valued at $55,000. Penn Capital Management Company LLC purchased a new position in Ribbon Communications in the 4th quarter valued at $56,000. Finally, Renaissance Technologies LLC purchased a new position in Ribbon Communications in the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

About Ribbon Communications

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.