Brokerage firm B. Riley Downgrades its rating on Sonus Networks(NASDAQ:SONS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by B. Riley was issued on Jul 28, 2016.
In a different note, DA Davidson said it Initiates Coverage on Sonus Networks, according to a research note issued on Jul 20, 2016. The shares have been rated ‘Buy’ by the firm.
Sonus Networks (SONS) made into the market gainers list on Thursdays trading session with the shares advancing 0.92% or 0.08 points. Due to strong positive momentum, the stock ended at $8.78, which is also near the day’s high of $8.82. The stock began the session at $8.69 and the volume stood at 3,36,134 shares. The 52-week high of the shares is $10 and the 52 week low is $5.15. The company has a current market capitalization of $434 M and it has 4,93,92,197 shares in outstanding.
Sonus Networks(SONS) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $60.86M. Analysts had an estimated revenue of $59.67M. Earnings per share were $0.08. Analysts had estimated an EPS of $0.03.
Several Insider Transactions has been reported to the SEC. On Feb 26, 2015, Peter Polizzi (VP, Global Services) sold 19,994 shares at $16.98 per share price.Also, On Feb 20, 2015, Mark T Greenquist (CFO) purchased 4,000 shares at $16.00 per share price.
Sonus Networks Inc. is a provider of networked solutions for telecommunications wireless and cable service providers and enterprises. Its products include session border controllers Session Initiation Protocol (SIP) session management servers Voice over IP (VoIP) switches SIP application servers multiprotocol signaling gateways and network analytics tools. Its solutions address the need for communications service providers and enterprises to seamlessly link and leverage multivendor multiprotocol communications systems and applications across their networks around the world and in a changing ecosystem of internet Protocol (IP)-enabled devices such as smartphones and tablets. Its solutions help its customers realize the intended value and benefits of Unified Communications (UC) platforms such as Microsoft Lync by enabling disparate communications environments commonplace in enterprises to work seamlessly together.