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.
COPYRIGHT VIOLATION NOTICE: This report was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.com-unik.info/2017/08/19/sonus-networks-inc-sons-rating-increased-to-buy-at-da-davidson-updated.html.
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.
What are top analysts saying about Sonus Networks Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sonus Networks Inc. and related companies.