Sonus Networks, Inc. (SONS) Earns “Buy” Rating from William Blair

William Blair reissued their buy rating on shares of Sonus Networks, Inc. (NASDAQ:SONS) in a research note issued to investors on Monday.

SONS has been the subject of a number of other reports. Zacks Investment Research downgraded Sonus Networks from a buy rating to a hold rating in a report on Tuesday, October 10th. BidaskClub downgraded Sonus Networks from a hold rating to a sell rating in a report on Tuesday, July 25th. Cowen and Company reissued a sell rating on shares of Sonus Networks in a report on Tuesday, October 17th. Northland Securities set a $10.00 price target on Sonus Networks and gave the company a buy rating in a report on Tuesday, July 4th. Finally, DA Davidson raised Sonus Networks from a neutral rating to a buy rating and set a $8.50 price target for the company in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $8.64.

Shares of Sonus Networks (NASDAQ SONS) traded up $0.14 during midday trading on Monday, reaching $7.24. The company had a trading volume of 488,213 shares, compared to its average volume of 556,533.

Sonus Networks (NASDAQ:SONS) last issued its earnings results on Monday, October 30th. The communications equipment provider reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. Sonus Networks had a negative return on equity of 1.87% and a negative net margin of 8.82%. The firm had revenue of $74.60 million for the quarter, compared to analyst estimates of $68.50 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Sonus Networks’s revenue for the quarter was up 14.8% on a year-over-year basis. analysts expect that Sonus Networks will post 0.09 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisors LLC acquired a new position in Sonus Networks in the 2nd quarter valued at $106,000. Prudential Financial Inc. acquired a new position in Sonus Networks in the 3rd quarter valued at $131,000. Federated Investors Inc. PA raised its stake in Sonus Networks by 26.1% in the 2nd quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock valued at $149,000 after purchasing an additional 4,133 shares during the last quarter. Voya Investment Management LLC raised its stake in Sonus Networks by 18.9% in the 2nd quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock valued at $189,000 after purchasing an additional 4,033 shares during the last quarter. Finally, American International Group Inc. raised its stake in Sonus Networks by 7.0% in the 1st quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock valued at $194,000 after purchasing an additional 1,930 shares during the last quarter. 68.27% of the stock is owned by hedge funds and other institutional investors.

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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