Fintel reports that on April 10, 2023, JMP Securities initiated coverage of Ribbon Communications (NASDAQ:RBBN) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 77.82% Upside
As of April 6, 2023, the average one-year price target for Ribbon Communications is $5.99. The forecasts range from a low of $5.05 to a high of $7.35. The average price target represents an increase of 77.82% from its latest reported closing price of $3.37.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ribbon Communications is $874MM, an increase of 6.60%. The projected annual non-GAAP EPS is $0.27.
What are Other Shareholders Doing?
PVFAX - Paradigm Value Fund holds 100K shares representing 0.06% ownership of the company. No change in the last quarter.
Ameriprise Financial holds 70K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 51K shares, representing an increase of 26.78%. The firm increased its portfolio allocation in RBBN by 61.76% over the last quarter.
Range Financial Group holds 132K shares representing 0.08% ownership of the company.
DFSTX - U.s. Small Cap Portfolio - Institutional Class holds 92K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 27K shares, representing an increase of 70.36%. The firm increased its portfolio allocation in RBBN by 327.02% over the last quarter.
HDG - ProShares Hedge Replication ETF holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 7.55%. The firm decreased its portfolio allocation in RBBN by 24.95% over the last quarter.
What is the Fund Sentiment?
There are 294 funds or institutions reporting positions in Ribbon Communications.
This is a decrease
of
4
owner(s) or 1.34% in the last quarter.
Average portfolio weight of all funds dedicated to RBBN is 0.06%,
an increase
of 33.92%.
Total shares owned by institutions increased
in the last three months by 4.07% to 131,318K shares.
The put/call ratio of RBBN is 0.18, indicating a
bullish
outlook.
Ribbon Communications Background Information
(This description is provided by the company.)
Ribbon Communications delivers communications software, IP and optical networking solutions to service providers, enterprises and critical infrastructure sectors globally. The Company engages deeply with its customers, helping them modernize their networks for improved competitive positioning and business outcomes in today's smart, always-on and data-hungry world. The Company's innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge software-centric solutions, cloud-native offers, leading-edge security and analytics tools, along with IP and optical networking solutions for 5G.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
