Sonus Networks, Inc. (SONS) Raised to Buy at Zacks Investment Research
Sonus Networks, Inc. (NASDAQ:SONS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, April 29th. The brokerage currently has a $8.75 target price on the communications equipment provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.13% from the company’s previous close.
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) “
A number of other research firms also recently weighed in on SONS. B. Riley reaffirmed a “neutral” rating and issued a $6.75 target price on shares of Sonus Networks in a research report on Monday, February 20th. William Blair reaffirmed a “hold” rating on shares of Sonus Networks in a research report on Sunday, February 19th. DA Davidson downgraded shares of Sonus Networks from a “buy” rating to a “neutral” rating and set a $6.50 target price for the company. in a research report on Thursday, February 16th. They noted that the move was a valuation call. Finally, Benchmark Co. initiated coverage on shares of Sonus Networks in a research report on Wednesday, April 26th. They issued a “buy” rating and a $4.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Sonus Networks has a consensus rating of “Hold” and an average target price of $8.00.
Sonus Networks (NASDAQ:SONS) traded down 2.06% during midday trading on Friday, hitting $7.60. The company had a trading volume of 742,498 shares. Sonus Networks has a 12-month low of $5.51 and a 12-month high of $10.00. The company’s 50 day moving average is $7.27 and its 200 day moving average is $6.53. The stock’s market cap is $376.37 million.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. The company had revenue of $53.37 million during the quarter, compared to the consensus estimate of $52.11 million. Sonus Networks had a negative net margin of 2.52% and a positive return on equity of 1.51%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, equities analysts anticipate that Sonus Networks will post $0.23 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. PEAK6 Investments L.P. boosted its stake in shares of 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 worth $120,000 after buying an additional 7,465 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of Sonus Networks during the fourth quarter worth approximately $154,000. Trexquant Investment LP purchased a new stake in shares of Sonus Networks during the first quarter worth approximately $161,000. American International Group Inc. boosted its stake in shares of Sonus Networks by 7.0% in the first quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 1,930 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in shares of Sonus Networks during the first quarter worth approximately $198,000. Hedge funds and other institutional investors own 70.27% of the company’s stock.
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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