Sonus Networks (SONS) has been under a strong bear grip, hence the stock is down -1.21% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.93% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.36% in the last 1 week, and is up 1.25% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Sonus Networks (NASDAQ:SONS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.88 and $8.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.91, notching a gain of 1.48% for the day. The total traded volume was 292,793 . The stock had closed at $8.78 on the previous day.
The stock has recorded a 20-day Moving Average of 1.39% and the 50-Day Moving Average is 0.24%. Sonus Networks, Inc. is up 7.35% in the last 3-month period. Year-to-Date the stock performance stands at 24.96%.
Sonus Networks (SONS) : The highest level Sonus Networks (SONS) is projected to reach is $13 for the short term and the lowest estimate is at $8. The consolidated price target from 4 rating analysts who initiate coverage on the stock is $10.56 and the possibility the share price can swing is $2.07.
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.