Zacks Investment Research downgraded shares of Sonus Networks Inc. (NASDAQ:SONS) from a hold rating to a sell rating in a report published on Friday morning.

According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “

Several other brokerages have also recently issued reports on SONS. B. Riley cut shares of Sonus Networks from a buy rating to a neutral rating and set a $10.25 price target on the stock. in a research report on Tuesday, July 26th. DA Davidson began coverage on shares of Sonus Networks in a report on Wednesday, July 20th. They issued a buy rating and a $12.00 price objective on the stock. William Blair restated a hold rating on shares of Sonus Networks in a report on Wednesday, September 28th. Cowen and Company cut shares of Sonus Networks from a market perform rating to an underperform rating and cut their price objective for the stock from $8.00 to $4.00 in a report on Thursday, September 29th. Finally, TheStreet upgraded shares of Sonus Networks from a sell rating to a hold rating in a report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $9.20.

Analyst Recommendations for Sonus Networks (NASDAQ:SONS)

Shares of Sonus Networks (NASDAQ:SONS) traded down 1.75% during mid-day trading on Friday, reaching $7.29. The company’s stock had a trading volume of 42,570 shares. The firm’s market cap is $360.07 million. The company’s 50-day moving average is $8.26 and its 200 day moving average is $8.44. Sonus Networks has a 12 month low of $5.15 and a 12 month high of $10.00.

Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. Sonus Networks had a negative net margin of 1.80% and a positive return on equity of 1.75%. The company had revenue of $60.90 million for the quarter, compared to analysts’ expectations of $59.67 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. Sonus Networks’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Sonus Networks will post $0.36 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Algert Global LLC increased its position in shares of Sonus Networks by 87.3% in the third quarter. Algert Global LLC now owns 148,671 shares of the company’s stock worth $1,157,000 after buying an additional 69,307 shares during the period. Sterling Capital Management LLC bought a new position in shares of Sonus Networks during the second quarter worth $639,000. Schwab Charles Investment Management Inc. increased its position in shares of Sonus Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,850 shares of the company’s stock worth $1,424,000 after buying an additional 2,520 shares during the period. Numeric Investors LLC bought a new position in shares of Sonus Networks during the second quarter worth $3,004,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Sonus Networks during the second quarter worth $127,000. Institutional investors own 68.24% of the company’s stock.

Sonus Networks Company Profile

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.

5 Day Chart for NASDAQ:SONS

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