Oppenheimer Holdings Inc. reissued their outperform rating on shares of Sonus Networks Inc. (NASDAQ:SONS) in a report released on Friday. They currently have a $17.00 price target on the stock.

Several other brokerages also recently issued reports on SONS. Zacks Investment Research raised shares of Sonus Networks from a hold rating to a buy rating and set a $9.75 price objective for the company in a research report on Saturday, July 30th. B. Riley reaffirmed a neutral rating and issued a $7.00 price objective on shares of Sonus Networks in a research report on Tuesday, November 1st. TheStreet downgraded shares of Sonus Networks from a hold rating to a sell rating in a research report on Wednesday, November 9th. Finally, Cowen and Company cut Sonus Networks from a market perform rating to an underperform rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Thursday, September 29th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $9.95.

Sonus Networks (NASDAQ:SONS) opened at 6.34 on Friday. The firm has a 50-day moving average of $6.55 and a 200 day moving average of $8.18. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00. The firm’s market capitalization is $313.42 million.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. Sonus Networks had a negative net margin of 2.52% and a positive return on equity of 1.51%. The company earned $65 million during the quarter, compared to the consensus estimate of $64.24 million. During the same quarter last year, the company earned $0.11 earnings per share. Sonus Networks’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts predict that Sonus Networks will post $0.30 earnings per share for the current year.

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A number of large investors have recently modified their holdings of SONS. BlackRock Inc. raised its stake in shares of Sonus Networks by 161.6% in the second quarter. BlackRock Inc. now owns 11,889 shares of the company’s stock valued at $103,000 after buying an additional 7,344 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Sonus Networks during the second quarter valued at $127,000. Quantitative Investment Management LLC raised its stake in shares of Sonus Networks by 69.3% in the third quarter. Quantitative Investment Management LLC now owns 17,100 shares of the company’s stock valued at $133,000 after buying an additional 7,000 shares in the last quarter. First Midwest Bank Trust Division raised its stake in shares of Sonus Networks by 43.8% in the second quarter. First Midwest Bank Trust Division now owns 25,580 shares of the company’s stock valued at $222,000 after buying an additional 7,795 shares in the last quarter. Finally, Nwam LLC bought a new stake in shares of Sonus Networks during the second quarter valued at $224,000. 68.64% of the stock is currently 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 (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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