Sonus Networks, Inc. (SONS) Upgraded at DA Davidson

DA Davidson upgraded shares of Sonus Networks, Inc. (NASDAQ:SONS) from a neutral rating to a buy rating in a research note published on Monday, August 7th, Marketbeat Ratings reports. DA Davidson currently has $8.50 price target on the communications equipment provider’s stock.

Other research analysts have also recently issued reports about the company. BidaskClub cut 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 issued a $6.75 price objective on shares of Sonus Networks in a research note on Wednesday, April 26th. ValuEngine cut Sonus Networks from a hold rating to a sell rating in a research note on Friday, June 2nd. Northland Securities set a $10.00 price objective on Sonus Networks and gave the stock a buy rating in a research note on Tuesday, July 4th. Finally, William Blair restated a hold rating on shares of Sonus Networks in a research note on Monday, May 1st. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $8.57.

Sonus Networks (NASDAQ SONS) traded down 0.29% during midday trading on Monday, reaching $6.84. The company had a trading volume of 128,696 shares. Sonus Networks has a 1-year low of $5.51 and a 1-year high of $8.86. The firm has a 50-day moving average of $7.21 and a 200 day moving average of $7.01. The company’s market capitalization is $339.85 million.

Sonus Networks (NASDAQ:SONS) last released its quarterly earnings results 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 company had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same period last year, the business posted $0.08 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Sonus Networks will post $0.25 EPS for the current year.

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Hedge funds have recently bought and sold shares of the company. Capital Investment Advisors LLC bought a new stake in Sonus Networks during the second quarter valued at approximately $106,000. PEAK6 Investments L.P. raised 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 valued at $120,000 after buying an additional 7,465 shares during the period. Federated Investors Inc. PA raised 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 valued at $149,000 after buying an additional 4,133 shares during the period. Trexquant Investment LP bought a new stake in Sonus Networks during the first quarter valued at approximately $161,000. Finally, Voya Investment Management LLC raised its stake in Sonus Networks by 18.9% in the second quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock valued at $189,000 after buying an additional 4,033 shares during the period. 71.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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