Sonus Networks Inc. (SONS) Receives “Outperform” Rating from Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Sonus Networks Inc. (NASDAQ:SONS) in a research report sent to investors on Friday. Oppenheimer Holdings Inc. currently has a $17.00 price objective on the stock.
A number of other equities research analysts have also commented on the stock. Cowen and Company lowered shares of Sonus Networks from a market perform rating to an underperform rating and dropped their price objective for the stock from $8.00 to $4.00 in a report on Thursday, September 29th. Zacks Investment Research upgraded shares of Sonus Networks from a hold rating to a buy rating and set a $9.75 price target on the stock in a research note on Wednesday, August 17th. William Blair reiterated a hold rating on shares of Sonus Networks in a research note on Wednesday, September 28th. B. Riley lowered 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 note on Thursday, July 28th. Finally, TheStreet lowered shares of Sonus Networks from a hold rating to a sell rating in a research note on Wednesday, November 9th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $9.95.
Shares of Sonus Networks (NASDAQ:SONS) opened at 6.03 on Friday. The company has a 50 day moving average of $6.51 and a 200 day moving average of $8.15. Sonus Networks has a 1-year low of $5.15 and a 1-year high of $10.00. The company’s market cap is $298.10 million.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $65 million for the quarter, compared to analyst estimates of $64.24 million. During the same period last year, the business posted $0.11 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts expect that Sonus Networks will post $0.30 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Sonus Networks by 122.3% in the first quarter. Renaissance Technologies LLC now owns 1,901,965 shares of the company’s stock valued at $14,322,000 after buying an additional 1,046,476 shares in the last quarter. King Luther Capital Management Corp purchased a new position in Sonus Networks during the second quarter valued at $3,391,000. Panagora Asset Management Inc. raised its position in Sonus Networks by 952.6% in the third quarter. Panagora Asset Management Inc. now owns 392,822 shares of the company’s stock valued at $3,056,000 after buying an additional 355,504 shares in the last quarter. Numeric Investors LLC purchased a new position in Sonus Networks during the second quarter valued at $3,004,000. Finally, First Trust Advisors LP raised its position in Sonus Networks by 16.1% in the third quarter. First Trust Advisors LP now owns 2,404,303 shares of the company’s stock valued at $18,705,000 after buying an additional 333,029 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.
About Sonus Networks
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.
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