Sonus Networks, Inc. (SONS) Lifted to “Outperform” at William Blair

William Blair upgraded shares of Sonus Networks, Inc. (NASDAQ:SONS) from a market perform rating to an outperform rating in a research report sent to investors on Thursday, June 1st, Marketbeat Ratings reports.

A number of other equities analysts have also recently issued reports on the company. B. Riley reaffirmed a neutral rating and issued a $7.00 target price on shares of Sonus Networks in a report on Friday, February 10th. Benchmark Co. assumed coverage on Sonus Networks in a report on Wednesday, April 26th. They issued a buy rating and a $4.00 target price for the company. Zacks Investment Research cut Sonus Networks from a strong-buy rating to a hold rating in a research note on Thursday, February 23rd. Finally, DA Davidson cut Sonus Networks from a buy rating to a neutral rating and set a $6.50 price target for the company. in a research note on Thursday, February 16th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Sonus Networks presently has an average rating of Hold and an average price target of $8.00.

Shares of Sonus Networks (SONS) opened at 7.57 on Thursday. The company has a 50-day moving average of $7.55 and a 200 day moving average of $6.71. Sonus Networks has a 12-month low of $5.51 and a 12-month high of $10.00. The firm’s market capitalization is $374.88 million.

Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Sonus Networks had a negative return on equity of 3.80% and a negative net margin of 8.07%. The business had revenue of $53.37 million during the quarter, compared to the consensus estimate of $52.11 million. During the same period in the prior year, the company earned $0.03 EPS. Sonus Networks’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts predict that Sonus Networks will post $0.23 EPS for the current year.

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Several institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in Sonus Networks by 20.8% in the first quarter. First Trust Advisors LP now owns 3,532,672 shares of the communications equipment provider’s stock valued at $23,280,000 after buying an additional 607,662 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sonus Networks by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,706,350 shares of the communications equipment provider’s stock valued at $17,835,000 after buying an additional 251,934 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Sonus Networks by 3.4% in the first quarter. Neuberger Berman Group LLC now owns 2,013,990 shares of the communications equipment provider’s stock valued at $13,272,000 after buying an additional 66,816 shares in the last quarter. AQR Capital Management LLC raised its stake in Sonus Networks by 12.0% in the first quarter. AQR Capital Management LLC now owns 1,184,088 shares of the communications equipment provider’s stock valued at $7,803,000 after buying an additional 126,869 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Sonus Networks by 2,607.2% in the first quarter. JPMorgan Chase & Co. now owns 1,018,573 shares of the communications equipment provider’s stock valued at $6,713,000 after buying an additional 980,948 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

About Sonus Networks

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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